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Tuesday, March 16, 2010

Important Message From NSP's CEO

   
Message from Doug Faggioli
CEO, Nature's Sunshine Products

 

Dear Nature's Sunshine Manager,

Doug Faggioli, CEONature's Sunshine has issued a press release containing several important announcements. ( Read the entire press release - PDF)

Because of the nature of the news release, I wanted to personally add some thoughts in the spirit of respect and gratitude that I feel toward each of you as NSP Managers.

The press release highlighted the successful year Nature's Sunshine had in 2009. It certainly was a Season of Sunshine, as the company progressed in growth and earnings, especially compared to the industry. Most of all, I enjoyed seeing many of you progress in your own lives, succeed in your businesses, and achieve new heights at NSP as you helped so many others with our wonderful products.

Since we are a public company, we were also happy to see our stock relisted on the NASDAQ exchange and to see our financial position further bolstered. As has been the case for many years, we still have no long-term debt. As I have stated in recent conventions, I believe that the opportunity we all share at NSP has never been better, and I see a bright future for NSP!

Below is a section of the news release that I would like to share with you:

"This is an opportune time to take my leave, now that the Company has made significant progress and is well-positioned for future growth. Nature's Sunshine is truly a great company, producing the highest quality natural products. I have thoroughly enjoyed my 27 years with the Company, participating in its growth and working with terrific and loyal  people, as well as a far-ranging field force of dedicated independent managers and distributors, many of whom I have come to know personally. I will surely miss working with the employees, management and the distributors of Nature's Sunshine Products."
 

I appreciate the kind words of Founder and Chairman, Kristine Hughes, also included in the press release, which she asked to be included in this letter:

"Doug has been a senior executive member of the management team for almost three decades, and has contributed immensely to the global growth and development of Nature's Sunshine," said Kristine Hughes, Nature's Sunshine chairman and a Company founder. "Sad as we are to see him go, he takes with him our warmest wishes for his future endeavors."
 

If I might quote one final section of the news release, I'd like to include a short description of Michael Dean, the new CEO, and I hope that you will support him as I have felt your support these many years:

"Michael Dean, who joined the Nature's board last year and has since 2003 been CEO of Mediaur Technologies, also serves on the advisory board of several digital media and technology companies. Among previous positions, he has been executive vice president of ABC Cable Networks, and prior to that, senior vice president of Corporate Strategic Planning and Development of its parent company, Disney. Mr. Dean also was a strategy consultant with Bain & Company. He holds an MBA from Harvard Business School. Mrs. Hughes commented, 'We have come to know Michael and admire his input and contribution to the board of Nature's Sunshine Products. Michael has exceptional executive talent. As a board member, he has demonstrated his business acumen, and with his broad experience across numerous industries and multinational companies, we consider him an excellent choice to lead Nature's Sunshine forward.' Mr. Dean added, 'Nature's Sunshine has the highest quality products and service in the industry and a very bright future. I am very pleased to join this outstanding team of employees, sales managers and independent distributors and look forward to contributing to their continued success'."
 

One thing I have witnessed over the years of my participation at NSP has been the quality of people who are attracted to this company, both Distributors and employees. Nature's Sunshine is the company it is today because of a large number of dedicated people of integrity, both in the corporation and throughout the United States and the world. Though I am leaving the office, many others remain to help you realize your bright future with NSP. I have full confidence in your U.S. President, Greg Halliday, U.S. Divisional Vice Presidents Efrain Villalobos and Craig Dalley, the U.S. Director team and the rest of the U.S. Home Office staff as they work together with you. They will work closely with the new CEO, Michael Dean, as he joins this wonderful Nature's Sunshine family and works for your success.

In order to insure a smooth transition, I will remain as CEO through the month of June 2010. Once again, I wish to thank you for the amazing years I have enjoyed with you at Nature's Sunshine, and I wish you the very best in your continued efforts to help other people to a healthier, happier life.

Sincerely,

Doug Faggioli
President and CEO
Nature's Sunshine Products

..............................
 

Note from the Founders:
 
 
Dear Managers,

As you may know, after 27 years of outstanding Nature's Sunshine leadership, Doug Faggioli is stepping down as CEO and Board member. We thank Doug for all he has done for the company; it can be said of Doug that he always looked out for your best interests.

We are happy to announce that Michael Dean has been chosen to replace Doug as the CEO. Michael is currently a Board member of the company. He has broad business experience, and we look forward to his leadership. He is excited to become acquainted with you; he has stated how impressed he is with our Managers as you have continued your loyalty to the company over the years.

We cherish our relationship with you and wish to thank you as always for your loyalty to Nature's Sunshine and your hard work in helping others.

We hope to see you soon at our next Nature's Sunshine event.

Sincerely,

Pauline Hughes
Founder

Gene Hughes
Founder

Kristine Hughes
Founder


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