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Usana executive shakeup sends shares lower

Published December 14, 2012 9:44 pm

This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Shares of Usana Health Sciences Inc. fell 8.2 percent on Friday after the company announced management changes that saw the resignation of its COO and a new role for its chief financial officer.

The stock closed at $38.42, down $3.45 a share on the New York Stock Exchange. Usana is a maker of nutritional and personal care products.

Doug Hekking stepped down as CFO "to attend to family health matters and his desire to serve in a more targeted role within the company," Usana said in a news release. He will assume a strategic role supporting finance and operations. Paul Jones, vice president of human resources, will be interim CFO.

Roy Truett resigned as chief operating officer, said Usana, which gave no explanation for his departure. With Truett's departure, Chief Production Officer Jim Brown will report directly to CEO Dave Wentz, the release said.

Usana also announced that Rick Stambaugh, a former president and CEO of TekVation and the Fionda Group, was named chief information officer. Lori Truman was promoted to VP of U.S. field development.