The downtown-based multi-level marketing firm Herbalife Ltd. has a new name: Herbalife Nutrition Ltd.
The new name was approved by stockholders at its annual meeting on April 24 to reflect the company’s “commitment to making the world healthier and happier.”
“More than ever before, consumers give our distributors permission to be their partner in seeking better nutrition and a more healthy and active lifestyle,” said Chief Executive Rich Goudis, in a statement. “Our new name, Herbalife Nutrition, reflects our strategic transformation as a leader in the nutrition industry.”
Common shares of Herbalife Nutrition, which are traded on the New York Stock Exchange, began trading under the new name on April 25. The HLF ticker symbol remains the same.
Shareholders also voted to approve a previously announced two-for-one stock split that goes on record on May 7, with a stock split distribution on May 14.
Shares in HLF rose nearly 2 percent to nearly $103.90 in morning trading Wednesday, up from $68.83 in early January.
Earlier this year, Herbalife Nutrition posted a fourth quarter loss of more than $63 million, while it earned $213.9 overall in 2017, down nearly 18 percent from the year before.
Health business reporter Dana Bartholomew can be reached at firstname.lastname@example.org. Follow him on Twitter @_DanaBart.
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