President and CEO Doug Robinson Exits LifeVantage, No Successor Named
February 3, 2015 Leave a comment
LifeVantage Corp. announced Monday that President and CEO Douglas Robinson has resigned from the company, ending a tenure that began in 2011. The Salt Lake City-based brand reports that a search is currently underway for Robinson’s successor. In the interim, LifeVantage independent director Dave Manovich will serve as Executive Vice Chairman.
“On behalf of the entire company, I would like to thank Doug Robinson for his leadership and contributions to LifeVantage over the last five years,” said Gary Mauro, Chairman of the Board. “We appreciate his hard work and dedication to growing our company’s footprint, ensuring our transition from retail to network marketing, positioning our distributors for the next phase of growth and strengthening our product line. We wish him the best in his future endeavors.”
The announcement follows a period of steady growth for the company. For its fiscal year ended Sept. 10, 2014, LifeVantage reported revenue of $214.0 million, up 2.8 percent over the prior year. In the Americas, sales increased 6.1 percent over 2013. LifeVantage operates in seven countries, with Asia Pacific generating its strongest business outside the U.S. In December, the company completed a new Hong Kong office to support its growth in the region. LifeVantage will announce its second quarter results on Wednesday.
LifeVantage has established an interim Office of the President to direct the company’s daily operations. The office comprises Chief Science Officer, Shawn Talbott; Chief Sales Officer, David Phelps; Chief Financial Officer, David Colbert; and Chief Operating Officer, Bob Urban.