In a wave of shock Li Yanliang, Herbalife President, China left the office after serving for 10 years in the organization. This news broke just after the company released its first quarter figures, which was $205.6 million in net sales of China that is considered as a high record.
China accounts around 20% of the business and it recently reached an agreement in principle to form a joint venture with Traditional Chinese Medicine foutfit Tostly holding group.
Herbalife Ltd. slumped 5.2% in afternoon trade Tuesday, pulling back from a more than 3-year closing high in the previous session, amid reports that the nutritional supplements company’s president of China operations was suddenly removed.
