Nu Skin announces plans for leadership transition; Napierski to be CEO
Nu Skin Enterprises Inc. has announced Ryan Napierski, the company’s current president, has been selected by the board of directors to become the company’s next president and CEO. Napierski will succeed Nu Skin CEO Ritch Wood, who has decided to retire as CEO effective Sept. 1 after 30 years with the company. Wood will continue as an executive advisor through early 2022, and it is anticipated that Napierski will assume Wood’s position on the board at the 2021 stockholder meeting in June.
Nu Skin is a 35-year-old Provo-based beauty and wellness products direct sales company with 4,900 employees and more than 800,000 independent distributors worldwide.
Wood, who served as Nu Skin’s chief financial officer for 14 years before becoming CEO in 2017, has been a key leader at Nu Skin, the company said in a release. “Under his leadership and vision as CEO, Nu Skin has increased its emphasis on being a customer-focused organization; expanded its product innovation, particularly in beauty devices; and transitioned to a digitally enabled social commerce model. He introduced a greater emphasis on sustainability, including reducing the company’s carbon footprint and incorporating environmentally friendly packaging into its products. He also led the company’s efforts to build a more integrated and innovative supply chain through the acquisition of several manufacturing companies,” the statement said.
“We are grateful to Ritch for his tremendous leadership and all he has done to help position Nu Skin for further growth and success in the years to come,” said Steven J. Lund, executive chairman of the board. “Ritch has exemplified our mission and vision every day for more than 30 years and is a force for good in every way. We are equally confident in Ryan and his ability to continue to lead Nu Skin to a bright and successful future. Together, Ritch and Ryan have built a strategy and vision that I believe will successfully drive Nu Skin forward for years to come.”
“It has truly been my honor to be the CEO of Nu Skin and lead an amazing team focused on improving people’s lives all around the world. I have such admiration for our global Nu Skin family, including our talented sales leaders and dedicated employees,” said Wood.
Napierski, who has been with Nu Skin for 25 years, has served as the company’s president for the past four years. Prior to that, he served as president of global sales and operations and lived abroad while serving as president of Nu Skin Japan and of Nu Skin’s North Asia region and leading and executing strategy in Europe, the Middle East and Asia. Napierski has a bachelor’s degree in business, an MBA from Duke University and a master’s degree in international business from Goethe Universitat in Germany.