home · filing · 0001193125-24-072046
8-K filed March 20, 2024, 7:59 PM ET
ticker HLF
CIK 0001180262
leadership
confidence high
sentiment neutral
materiality 0.75
HERBALIFE LTD. (HLF): restructuring charge — Herbalife appoints John DeSimone as CFO; announces restructuring and 2024 guidance
HERBALIFE LTD.
John DeSimone appointed CFO effective March 17, 2024; Alex Amezquita remains with company.
Board approved restructuring plan requiring at least $60M pre-tax expenses in 2024, primarily severance.
Q1 2024 guidance: net sales +1-3% y-o-y; adjusted EBITDA $115-130M.
FY 2024 guidance: net sales +0-5% y-o-y; adjusted EBITDA $540-580M; capex $125-175M.
Expects at least $80M annual run-rate savings from restructuring beginning in 2025; targets gross leverage ratio 3.0x by end 2025.
Executive movements
Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements .
Departed
Alex Amezquita
Chief Financial Officer
Effective 2024-03-17
Successor John DeSimone
Filed March 20, 2024, 7:59 PM ET
On March 17, 2024, Alex Amezquita ceased to serve as the Company’s Chief Financial Officer but will continue to serve as an employee of the Company.
Appointed
John DeSimone
Chief Financial Officer
Effective 2024-03-17
Filed March 20, 2024, 7:59 PM ET
On March 17, 2024, John DeSimone was appointed as the Company’s Chief Financial Officer.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Alex Amezquita departed as Chief Financial Officer at HERBALIFE LTD..
Action ceased to serve
Role Chief Financial Officer
Exact text from the filing
On March 17, 2024, Alex Amezquita ceased to serve as the Company’s Chief Financial Officer but will continue to serve as an employee of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
John DeSimone was appointed as Chief Financial Officer at HERBALIFE LTD..
Action appointed
Role Chief Financial Officer
Exact text from the filing
On March 17, 2024, John DeSimone was appointed as the Company’s Chief Financial Officer.
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 1.0
HERBALIFE LTD. announced a restructuring with charges of at least $60 million of pre-tax expenses.
Type restructuring
Charge at least $60 million of pre-tax expenses
Exact text from the filing
The Company expects to recognize at least $60 million of pre-tax expenses in 2024 related to the restructuring, which is primarily related to severance costs.
View on SEC.gov
Source: SEC EDGAR
accession 0001193125-24-072046
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