Scottish-born Nigerian exec John Agwunobi earns $8.2-million salary from Herbalife

Feyisayo Ajayi -

Scottish-born Nigerian-American business executive John Agwunobi, who stepped down as executive chairman and CEO of Herbalife Nutrition in October 2022, received a significant compensation package of $8.2 million from the Los Angeles-based nutrition supplement company in 2022.

Agwunobi’s 2022 compensation package reflects a significant 16.89 percent jump from the previous year’s $6.9 million total. It includes a base salary of $0.9 million and a performance-based short-term incentive of $2.7 million.

Nutritional innovation: Agwunobi’s journey from chief health officer to Herbalife CEO

Herbalife Nutrition, a global leader in personalized nutrition, serves customers in 95 markets and boasts over four decades of expertise in empowering individual wellness. It champions improved dietary practices worldwide by offering scientifically backed, high-quality products tailored to diverse tastes and nutritional needs.

Agwunobi, chairman and CEO of Herbalife from March 2020 to October 2022, played a pivotal role in the company’s expansion. He passionately championed Herbalife’s mission to enhance global nutrition, strengthen communities, and empower independent distributors.

Prior to his leadership, Agwunobi served as co-president and chief health and nutrition officer, shaping the company’s core nutritional principles. Joining Herbalife in 2016, he actively collaborated with distributors and consumers, driving continuous innovation across product development, technology, marketing, and sales.

Agwunobi’s bet on Herbalife: A minority stake amidst financial challenges

Despite the strategic leadership of Agwunobi, who retired as CEO in December 2022, Herbalife Nutrition faced a challenging year in 2022. The global nutrition company saw its gross profit decline by 13.15 percent, tumbling from $4.56 billion in 2021 to $4.03 billion in 2022.

This dip in profitability occurred alongside a 3.19-percent decrease in total assets, which fell from $2.82 billion in 2021 to $2.7 billion in 2022. These headwinds raise questions about the company’s future trajectory and the effectiveness of its ongoing transformation strategy.

However, even after stepping down from his executive role, Agwunobi remains invested in Herbalife’s success. He retains a 0.13-percent minority stake worth approximately $1.97 million, demonstrating his continued faith in the company’s mission and potential.