CEO steps down, remains chairman
Under pressure from shareholders and regulators accusing the company of using illegal sales tactics, Sam Caster, who co-founded Mannatech Inc. [Coppell] in 1993, resigned as CEO. He retains role as board chair, reports the Wall Street Journal.
The board of directors selected Terry L. Persinger, current President and CEO, as interim CEO.
The $410 million dietary supplements maker went public in 1999, and has experienced rapid growth. However, the Texas attorney general is pursuing the company for false marketing claims, and a number of shareholder suits have been filed against the company. .:.
The Gulfton Fallacy: Don't Let Zoning's 'Perfect' Be the Enemy of Houston's
Good
-
The Houston Chronicle just published a shorter version of this as a Letter
to the Editor, but here is the full version.---The recent call to use the
Gulfto...
5 days ago
0 Comments:
Post a Comment