Michael O. Johnson
Michael O. Johnson | |
|---|---|
| Born | 1954 (age 69–70) |
| Nationality | American |
| Alma mater | Western Colorado University |
| Occupation | Business executive |
| Known for | CEO of Herbalife |
Michael O. Johnson is an American business executive, and the CEO of Herbalife Nutrition.[1][2][3]
Early life
Michael O. Johnson is an American businessman and former CEO of Herbalife Nutrition. He previously served as President of The Walt Disney Company, Publisher of Audio Times magazine, and held roles at The Movie Channel, Nickelodeon, and MTV channels of the Warner Amex Satellite Entertainment Company.[4] Johnson received his Bachelor of Arts in Political Science from Western State Colorado University.
Early career
Disney
Johnson worked at the Walt Disney Company for 17 years as President of Walt Disney International. During that time, he expanded Disney's international home video business and concentrated on making Disney's global operations and business relations more efficient. He created Disney subsidiaries in Asia, Europe, Africa, Latin America, and the Middle East, and increased Disney's international markets from 34 to 80. Under Johnson's leadership, Disney became the top home distribution organization, and led the company to produce over $1 billion in revenue.[4]
Johnson notably set out to acquire the film library of Japanese anime director-animator Hayao Miyazaki. Johnson had, in fact, previously commented on the allure of Miyazaki's filmography in 1998 HBO TV special Animation, Anime, and Spawn: Cartoons Just Grew Up, "We have many animators here inside the Disney Corporation who are very...enthused by our relationship with Miyazaki and are also big fans of his."[5] While individual films by Miyazaki had previously been licensed for the U.S., such as the Fox Video release of My Neighbor Totoro, an acquisition of the complete film library was made difficult, as Miyazaki's relationship with international redistribution had been soured by significantly altered releases of Miyazaki's films, such as the highly edited New World Pictures release of Nausicaä of the Valley of the Wind as Warriors of the Wind.[6] After some negotiations, Johnson's team was able to secure the rights to Miyazaki's complete library.
Herbalife
As CEO
Johnson joined Herbalife Nutrition as CEO in 2003, and served as Chairman beginning in 2007.[7][1]
Johnson emphasized the need to pivot the Herbalife brand away from being exclusively concerned with weight-loss products and the broader perceptions associated with multi-level marketing, a view which he described in an interview with Fortune Magazine as, “When I took over in 2003, Herbalife was a multilevel-marketing company that sold nutrition products. Now it’s a nutrition company that uses multilevel marketing as its distribution channel.”[2] To achieve this, Johnson instituted quality controls, moved Herbalife's product manufacturing to be in-house, and widened Herbalife's product offerings.[2] To emphasize Herbalife's new focus on general fitness and nutrition, Johnson expanded its sports sponsorships to include more than 200 teams and athletes, such as Cristiano Ronaldo, as well as company sponsorship of the LA Galaxy professional soccer team.[8][2] Johnson also sought to minimize company claims to distributors around exceptional “business opportunity" to set a more realistic tone during pitches.[2]
Johnson came to prominence between 2012 and 2015 following a short sale of Herbalife stock by Bill Ackman and his hedge fund Pershing Square Capital Management. Ackman alleged that Herbalife is a pyramid scheme and built a billion-dollar short position in Herbalife stock.[9] Ackman's short position was widely covered by American media outlets and was the subject of the documentary Betting on Zero.
Johnson transitioned to the position of Executive Chairman in 2017, before returning to the role of Chairman and CEO in 2019. During this time, Herbalife Nutrition grew its net sales from $1.1 billion in 2003 to $4.4 billion in 2017.
Return as Interim CEO
Johnson was made interim CEO at the beginning of 2019 following the resignation of Richard Goudis.[10]
To celebrate its 20-year legacy in India, Herbalife Nutrition launched H24 Rebuild Strength and H24 Hydrate, a new flavor in the Herbalife24 sports nutrition line.[11]
Since Johnson regained his role as CEO, Herbalife Nutrition has outperformed the S&P 500 by 17.62%, and traded $2.78 million shares, operating 45.87% better than the average. Following Herbalife Nutrition's 2018 Q4 performance, Antipodean Advisors Llc raised the number of shares in the company by 12.12%.[12] In 2019, Herbalife Nutrition increased their sentiment to 1.32, leading 124 investment managers to expand investments and equity positions in the company.[13]
References
- ^ a b Merced, Michael J. de la (1 November 2016). "Chief Who Guided Herbalife Through Troubles Will Step Down". The New York Times.
- ^ a b c d e "Why Herbalife CEO's Departure Is a Body Blow to the Company".
- ^ "The CEO of Herbalife just called Bill Ackman 'fake news'".
- ^ a b "Michael O. Johnson Biography" – via hbitl.net.
- ^ "Admirers around the world". The Hayao MIYAZAKI Web.
- ^ "When NAUSICAÄ Became WARRIORS OF THE WIND". Cinematheque.
- ^ "Herbalife Ltd. SEC Filing".
- ^ "Herbalife Chairman and CEO Michael O. Johnson is "Building It Better"". 2013-10-17 – via herbalifespotlight.com.
- ^ Alden, William (December 20, 2012). "Ackman Outlines Bet Against Herbalife". NYT. Retrieved December 20, 2012.
- ^ "Herbalife Names Michael O. Johnson as Interim CEO, Replacing Richard Goudis" – via labusinessjournal.com.
- ^ "Herbalife Nutrition celebrates 20 years of success in India with unveiling of H24". Business Standard India. 2019-05-21 – via business-standard.com.
- ^ "Antipodean Advisors Stake In Herbalife Nutrition LTD (HLF) Was Has Increased; Umb Bank N A Has Upped Its Intel (INTC) Stake by $941,666 as Share Value Rose" – via bnbonews.com.
- ^ "Institutional Investor's Pro-Herbalife LTD (NYSE:HLF) Sentiment In Q1 2019" – via investtribune.com.