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Statement from Herbalife in Response to Bill Ackman's Three-Hour Presentation on Nutrition Clubs
Herbalifeis first and foremost a company with great products that people want.
There are hundreds of thousands of members and millions more consumers
Herbalifefor our products and community-based approach to health and wellness.
- There is a comprehensive training system for members who aspire to open their own nutrition club so that they are fully informed of the time, commitment and skills required to do so.
We will continue to focus on our mission of bringing good nutrition and
economic opportunities to communities across the globe. We recognize
that he is running out of time to make good on his bad bet against
To clarify, a couple of points:
- We are proud that our members are required to participate in training before deciding to open a nutrition club. Our training approach - sometimes referred to as a "university" - is similar to the training model that has been deployed by numerous consumer-facing companies.
Club 100was a program that contained many of the best elements of nutrition clubs, including education, mentoring and fiscal responsibility. These elements are the cornerstone of our clubs today. Herbalifeis proud of our members who use nutrition clubs as an important tool of social support to achieve good nutrition and a healthy active lifestyle.
Mr. Ackman's claim about the earnings of
Herbalifenutrition clubs is completely false and fabricated. In fact, according to a recent study commission by the Company, 87.5% of nutrition club operators feel good about the money they earn and 92% want to continue with their club.
In a separate release,
Dr. Vandaele is an economic expert with significant experience in, among
other areas, the regulation and operations of firms in the consumer
goods industry. Among his many professional accomplishments, he has
previously served as Economic Advisor to the Director,
Among his numerous determinations, Dr. Vandaele concluded that, "Herbalife's U.S. business operations are consistent with the socially beneficial MLM model and inconsistent with the socially harmful pyramid scheme model."
SVP, Investor, Corporate and Government Relations
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