Nature's Sunshine CEO Resigns and Director Buys 365,000 Shares

By
A A A

On March 6, Nature's Sunshine Products Inc. ( NATR ) released a press statement along with their quarterly earnings that CEO Michael Dean would be resigning effective March 31, 2013. The executive chairman, Gregory Probert, will step up and become an interim CEO until the board of directors appoints a new CEO.

In preparing for the resignation of Dean, Nature's Sunshine Director Willem Mesdag purchased 367,447 shares of NATR on March 11 for $14.16 per share. The total transaction amount was $5.2 million. The director now holds 2,350,049 shares of Nature's Sunshine.

Willem Mesdag has had an extensive career in international investment banking and finance. Mesdag is currently on the board of directors for Encore Capital Group ( ECPG ) and Nature's Sunshine. He has experience and expertise related to business and financial issues. Mesdag received his J.D. from Cornell Law School and his B.A. from Northwestern University.

Nature's Sunshine is a health and wellness company based out of Lehi, Utah. Nature's Sunshine manufactures, sells and markets tablets and encapsulated herbal products, natural vitamins, food supplements and skin care products. The company opened in 1972 and was the first company to put herbs in a pill form. The market cap for Nature's Sunshine is $246.05 million.

Nature's Sunshine had a pretty strong 2012. Its net income for 2012 was $25.4 million as compared to $17.6 million in 2011, a 44.2% increase. Its basic and diluted net income per share was $1.62 and $1.59, respectively. The company saw a 0.1% decrease in net sales from 2011. Net sales for 2012 were $376.5 million in comparison to $376.8 million in 2011.

"Now that the Company has made significant progress and is well positioned for future growth, this is an appropriate time for me to exit," said CEO Michael Dean. "I am pleased to leave the Company stronger than ever and in capable hands with an outstanding team and talented, loyal sales managers and independent distributers."

Two gurus followed by GuruFocus hold shares in Nature's Sunshine. Joel Greenblatt holds 44,695 shares of NATR and Jim Simons currently owns 72,400 shares.

With its shares up 0.93% this morning, Nature's Sunshine trades at $15.71.

For more information on insider trades within Nature's Sunshine, look at Nature's Sunshine's Market Overview.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing

Referenced Stocks: ECPG , NATR

GuruFocus

GuruFocus

More from GuruFocus:

Related Videos

Stocks

Referenced

100%
100%

Most Active by Volume

84,725,997
  • $6.69 ▼ 5.11%
68,180,500
  • $3.38 ▼ 1.74%
52,748,572
  • $99.02 ▲ 1.38%
40,996,811
  • $74.92 ▼ 0.36%
37,831,986
  • $15.50 ▼ 0.58%
34,013,720
  • $31.98 ▼ 4.31%
32,417,159
  • $25.59 ▼ 0.78%
31,985,971
  • $54.87 ▲ 1.20%
As of 7/28/2014, 04:05 PM