GNC Holdings Inc. Strengthens Management Team with Additions to its Executive Committee
Jeffrey R. Hennion joins as EVP, Chief Marketing and eCommerce Officer
Daisy Vanderlinde joins as Chief Human Resource Officer
PITTSBURGH - Sept. 18, 2014 // PRNewswire // - GNC Holdings, Inc. (NYSE: GNC) (the "Company"), a leading global specialty retailer of health and wellness products, today announced the addition of two experienced retail executives to their leadership team. Jeffrey R. Hennion will serve as Executive Vice President, Chief Marketing and eCommerce Officer, and Daisy Vanderlinde joins as Chief Human Resource Officer. In addition, Carl Seletz, GNC's Senior Vice President of International Business Development, will assume the additional responsibility of leading the Company's domestic and international franchise operations.
Mr. Hennion comes to GNC most recently from Branding Brand - a leading mobile commerce provider - where as President and Chief Financial Officer he led them through a transformational growth period. Prior to Branding Brand, Mr. Hennion led GNC's marketing and eCommerce efforts through a period of meaningful growth in 2011 and 2012. He also spent ten years with Dick's Sporting Goods in a number of senior leadership roles, ultimately serving as their Executive Vice President, Chief Marketing Officer and head of eCommerce. Mr. Hennion's career at Dick's Sporting Goods began as Vice President of Finance and Treasurer.
"Jeff is a great addition to our team. Having started his career on the financial side, he understands the importance of thoughtful strategies grounded in sound financials. He also is a seasoned executive in the field of marketing and eCommerce, each of which are critical to the growth strategies of GNC," said Michael Archbold, Chief Executive Officer. "Jeff knows our brand and our customers. We are excited to see him return to the GNC team."
Ms. Vanderlinde is a human resources professional with more than 30 years of experience guiding organizations in areas such as strategic planning, change management, talent acquisition, and leadership development. Ms. Vanderlinde comes to GNC most recently from Office Depot, where she was Executive Vice President of Human Resources. During her time with Office Depot, Ms. Vanderlinde led a team of more than 300 HR professionals worldwide, serving consumers and businesses in more than 50 countries. Prior to that, she served in a number of senior HR leadership roles with companies such as AutoZone, Tractor Supply and Marshalls.
"Our business is evolving every day, in step with the market and our customers. We need a leader who can ensure we have the right people in the right roles, with the appropriate structure and culture to guide us through that change," adds Mr. Archbold. "Daisy understands multi-channel retailing, and is an experienced change leader. We are excited to have her expertise as part of the GNC Executive Committee."
Mr. Seletz has over 30 years of retail experience, holding positions of increasing responsibility in domestic and international operations for L Brands (Victoria's Secret, Bath & Body Works and La Senza), Abercrombie & Fitch, The Limited, Old Navy and The GAP. Most recently he served as Senior Vice President of International Store Operations for L Brands where he was responsible for more than 650 stores worldwide. Since joining GNC in 2013, Mr. Seletz has led the Company's development efforts in Europe and China.
Said Mr. Archbold, "In this expanded role, Carl's extensive experience, knowledge, leadership and vision positions him well to strategically lead our domestic and international franchise operations."
About GNC Holdings, Inc.
GNC Holdings, Inc., headquartered in Pittsburgh, PA, is a leading global specialty retailer of health and wellness products, including vitamins, minerals, and herbal supplement products, sports nutrition products and diet products, and trades on the New York Stock Exchange under the symbol "GNC."
The Company – which is dedicated to helping consumers Live Well – has a diversified, multi-channel business model and derives revenue from product sales through company-owned retail stores, domestic and international franchise activities, third party contract manufacturing, e-commerce and corporate partnerships. GNC's broad and deep product mix, which is focused on premium, value-added nutritional products, is sold under GNC proprietary brands, including Mega Men®, Ultra Mega®, Total LeanTM, Pro Performance® AMP, Beyond Raw®, GNC PuredgeTM, GNC GenetixHD®, Herbal Plus® and under nationally recognized third party brands. As of June 30, 2014, GNC has more than 8,700 locations, of which more than 6,500 retail locations are in the United States (including 1,050 franchise and 2,232 Rite Aid franchise store-within-a-store locations) and franchise operations in more than 50 countries (including distribution centers where retail sales are made).
Forward-Looking Statements Involving Known and Unknown Risks and Uncertainties
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the Company's financial condition, results of operations and business that is not historical information. Forward-looking statements can be identified by the use of terminology such as "subject to," "believes," "anticipates," "plans," "expects," "intends," "estimates," "projects," "may," "will," "should," "can," the negatives thereof, variations thereon and similar expressions, or by discussions regarding our dividend, share repurchase plan, strategy and outlook. While GNC believes there is a reasonable basis for its expectations and beliefs, they are inherently uncertain. The Company may not realize its expectations and its beliefs may not prove correct. Many factors could affect future performance and cause actual results to differ materially from those matters expressed in or implied by forward-looking statements, including but not limited to unfavorable publicity or consumer perception of our products; costs of compliance and our failure to comply with new and existing governmental regulations governing our products, including, but not limited to, proposed dietary supplement legislation and regulations; limitations of or disruptions in our manufacturing system or losses of manufacturing certifications; disruptions in our distribution network; or failure to successfully execute our growth strategy, including any inability to expand our franchise operations or attract new franchisees, any inability to expand our company owned retail operations, any inability to grow our international footprint, any inability to expand our e-commerce businesses, or any inability to successfully integrate businesses that we acquire. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Actual results could differ materially from those described or implied by such forward-looking statements. For a listing of factors that may materially affect such forward-looking statements, please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2013.
The Company is authorized to repurchase from time to time shares of its outstanding common stock on the open market or in privately negotiated transactions. The Company may finance any repurchases with cash, potential financing transactions, or a combination of the foregoing. The timing and amount of stock repurchases will depend on a variety of factors, including the market conditions as well as corporate and regulatory considerations. The share repurchase program may be suspended, modified or discontinued at any time and the Company has no obligation to repurchase any amount of its common stock under the program. The Company intends to make all repurchases in compliance with applicable regulatory guidelines and to administer the plan in accordance with applicable laws, including Rule 10b-18 and, as applicable, Rule 10b-5 of the Securities Exchange Act of 1934, as amended.
SOURCE GNC Holdings, Inc.
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