Wentz, 67, will be replaced by his 37-year-old son, David, according to a news release Wednesday that also announced other management changes. Myron Wentz, the founder of the company, will remain as chairman of the board.

Usana spokesman Joe Poulos said Wentz was retiring as CEO on his own accord with no pressure from the board.

Timothy Ramey, an analyst with D.A. Davidson & Co., said it appeared the change just confirmed that as president, David Wentz was responsible for day-to-day management.

"I think that just sort of codifies what was in place," Ramey said.

The elder Wentz is the company's founder, controls 52 percent of Usana stock and will still take a large role as a research scientist and motivator of the company's independent distributors, said Doug Lane, an equities analyst with Jefferies & Co.

"This is still Doctor Wentz's company," Lane said.

Lane said he sees the handoff from father to son as a natural evolution that has been going on for some time as David Wentz took a greater role in running the company. But the failure of the bid last week to take the company private also may have prompted the Usana board to examine how it would be managed going forward.

"I think the tender offer served as a catalyst in that, with its failure, they had to recommit as a public company," Lane said, adding the board may have asked itself, " 'OK, what team are we going to put in the field and where are we going to put them?' "

Last week, a group of majority shareholders led by Wentz gave up its bid to buy out minority stockholders and take the publicly traded company private.

The bid was abandoned after a special committee of the board formed to study the proposed deal deemed the $28 a share offer too low and recommended minority shareholders reject it. Lawsuits also alleged Wentz and others were trying to take advantage of the company's lower stock price and accused them of failing to protect the interests of all stockholders.

Analysts also said the bid was too low and at least one questioned the company's management.

David Wentz will be paid a base salary of $600,000 plus stock options and can earn other bonuses, according to a Securities and Exchange Commission filing.

Fred Cooper, the company's executive vice president of operations, was promoted to president and chief operating officer.

He will received a base salary of $550,000 annually plus stock options, and also will be eligible for bonuses.

Gil Fuller, 67, is retiring as executive vice president and CFO, the company announced. He is being replaced as CFO by Jeff Yates, currently Usana's vice president of finance. Yates' base salary will be $250,000 plus stock options, and he can receive bonuses.

Other changes include:

* Mark Wilson, previously executive vice president of customer relations, is promoted to executive vice president of North America.

* Kevin Guest, previously executive vice president of marketing, becomes chief marketing officer.

* Deborah Woo, previously vice president with responsibility for operations in Japan, South Korea, Hong Kong and Taiwan, was promoted to executive vice president of Asia.

* Jim Bramble, general counsel, also becomes corporate secretary.

* Roy Truett, previously vice president of information technology, is chief information officer.

Usana stock finished up $1.04 or nearly 4 percent to close Wednesday at $28.14.

tharvey@sltrib.com