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Herbalife - Los Angeles Times Article

Article – New Herbalife Compliance Chief Promises “Robust Monitoring”

Herbalife shares jump after company hires former FTC commissioner; Promises increased policing and enforcement.

Herbalife Ltd. has hired a former Federal Trade Commission (FTC) commissioner to oversee the conduct of its independent sales team. Pamela Jones Harbour will monitor training and mentoring programs for Herbalife’s nearly 4 million distributors and employ “robust and consistent monitoring and enforcement procedures,” the company said in a news release. According to an article from The Los Angeles Times:

“Herbalife Ltd., the nutrition company that is under investigation by the Federal Trade Commission, has hired a former FTC commissioner to oversee the conduct of its independent sales team.

Pamela Jones Harbour will monitor training and mentoring programs for Herbalife’s nearly 4 million distributors and employ “robust and consistent monitoring and enforcement procedures,” the company said in a news release.

Investors seemed to like the news, which the company released early Monday. Herbalife shares gained 6% to close at $47.30 in Monday trading. Harbour served as an FTC commissioner from 2003 to 2010 before entering private legal practice. She was appointed to the commission by President George W. Bush. Her hiring comes as the FTC investigates allegations that Herbalife operates an illegal pyramid scheme that rewards distributors more for recruiting than it does for product sales. Harbour, who will be a senior vice president in charge of global member compliance and privacy, said she has personally consumed Herbalife’s nutrition products for 10 years.”

To continue reading the full article from The Los Angeles Times, click here.

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