COPPELL, Texas--(BUSINESS WIRE)--Dec. 16, 2011--
Incorporated (NASDAQ: MTEX),
has announced the resignation of one of its senior executives.
Stephen D. Fenstermacher, Chief Financial Officer and co-CEO, resigned
effective December 13, 2011, to accept an opportunity with a financial
services company. Mr. Fenstermacher joined Mannatech in 1998, and has
served as its Chief Financial Officer since October 1999. He joined the
Mannatech Senior Executive Office as co-CEO in December 2009. The
Company’s Board of Directors is currently evaluating the vacancy in the
Senior Executive Office resulting from Mr. Fenstermacher’s resignation.
Mannatech has promoted S. Mark Nicholls to Chief Financial Officer. Mr.
Nicholls joined Mannatech in December 2007 to serve as Senior Tax
Manager, and most recently served as Vice President Treasury & Tax.
Prior to joining Mannatech, Mr. Nicholls served as Tax Director at
Carter & Burgess, a large architectural and engineering firm in the
United States, and as Chief Financial Officer for The Cirrus Group, a
real estate management and development company. Additionally, Mr.
Nicholls spent ten years working at public accounting firms, including
PricewaterhouseCoopers and BDO Seidman. He is a Certified Public
Accountant licensed in the State of Texas.
“We are very thankful for the many contributions Steve has made at
Mannatech in his 13 years of service at the company, and wish him the
utmost success in his new ventures,” says co-CEO and Chief Science
Officer Robert. A. Sinnott. “Moreover, we’re excited about the promotion
of Mark Nicholls to Chief Financial Officer. Mark has been an integral
part of the Mannatech team over the past four years. He is equally
impressive in both his ability to protect Mannatech’s financial standing
and in his comprehension of the growth mechanisms that influence success
in the direct sales industry.”
Individuals interested in Mannatech’s products or in exploring its
business opportunity can learn more at Mannatech.com.
Mannatech, Incorporated, develops high-quality health, weight and
fitness, and skin care products that are based on the solid foundation
of nutritional science and development standards. Mannatech is dedicated
to its platform of Social Entrepreneurship based on the foundation of
promoting, aiding and optimizing nutrition where it is needed most
around the world. Mannatech's proprietary products are available through
independent sales Associates around the globe including the United
States, Canada, South Africa, Australia, New Zealand, Austria, Denmark,
Germany, Norway, Sweden, the Netherlands, the United Kingdom, Japan,
Taiwan, Singapore, Estonia, Finland, the Republic of Ireland, Czech
Republic, the Republic of Korea and Mexico. For more information, visit Mannatech.com.
Please note: This release contains "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as amended,
and the Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally can be identified by use of phrases
or terminology such as "intend" or other similar words or the negative
of such terminology. Similarly, descriptions of Mannatech's objectives,
strategies, plans, goals or targets contained herein are also considered
forward-looking statements. Mannatech believes this release should be
read in conjunction with all of its filings with the United States
Securities and Exchange Commission and cautions its readers that these
forward-looking statements are subject to certain events, risks,
uncertainties and other factors. Some of these factors include, among
others, Mannatech's inability to attract and retain Associates and
Members, increases in competition, litigation, regulatory changes and
its planned growth into new international markets. Although Mannatech
believes that the expectations, statements and assumptions reflected in
these forward-looking statements are reasonable, it cautions readers to
always consider all of the risk factors and any other cautionary
statements carefully in evaluating each forward-looking statement in
this release, as well as those set forth in its latest Annual Report on
Form 10-K and Quarterly Report on Form 10-Q, and other filings filed
with the United States Securities and Exchange Commission, including its
current reports on Form 8-K. All of the forward-looking statements
contained herein speak only as of the date of this release.
Source: Mannatech, Incorporated
Brett Duncan, 972-471-7367