PROVO, Utah - Nu Skin Enterprises (NYSE:NUS), a global beauty and wellness company, today announced the addition of Mark A. Zorko to its board of directors. Zorko, a seasoned executive with a background in C-level leadership and board experience, will also serve on the audit committee and the nominating and corporate governance committee of the company.
Mark Zorko comes to Nu Skin with over two decades of experience at the board level and significant executive roles in various global public companies. His career has spanned across multiple industries, including manufacturing, energy, medical devices, and high-tech sectors. Zorko's previous positions include serving as CFO for Steel Excel and DGT Holdings, as well as interim CEO for Well Services Ltd., a subsidiary of Steel Excel. He is currently a member of the boards of Westell Technologies and Modern Mining Technology Corp.
In addition to his executive roles, Zorko co-founded Brentwood Advisory Group 12 years ago. He holds an MBA in Information Technology from the University of Minnesota and a bachelor's degree in accounting from Ohio State University. His professional journey began at Arthur Andersen as a Certified Public Accountant, followed by advancement through controller positions at Honeywell (NASDAQ:HON) and Zenith Data Systems in the U.S. and Europe. Zorko is also recognized for his active involvement with the National Association of Corporate Directors (NACD), holding Director Certified and CERT cybersecurity credentials.
Steven J. Lund, executive chairman of Nu Skin's board, expressed confidence in Zorko's appointment, highlighting his extensive business insights and experience as valuable assets for the company's future endeavors.
Nu Skin Enterprises is an integrated beauty and wellness company that has been conducting research for 40 years and operates in nearly 50 markets worldwide. Its product range includes personal care, nutrition, and anti-aging solutions. Nu Skin also oversees Rhyz Inc., a collection of consumer, technology, and manufacturing companies innovating in the beauty, wellness, and lifestyle sectors.
The information in this article is based on a press release statement from Nu Skin Enterprises.
"In other recent news, Nu Skin Enterprises, Inc. declared a quarterly cash dividend of $0.06 per share, slated for payment on September 11, 2024, to shareholders recorded as of August 30, 2024. In addition to this financial update, the company announced the expansion of its Board of Directors with the appointment of Mark A. Zorko. His appointment, effective immediately, increases the board members from eight to nine. Zorko's extensive experience in finance and governance will be utilized on the Audit Committee and the Nominating and Corporate Governance Committee. Nu Skin Enterprises confirmed that Zorko's appointment was not based on any arrangement with other individuals, and there are no related-person transactions between the company and him. These are among the recent developments within the company. The company's diverse portfolio comprises Nu Skin personal care, Pharmanex nutrition, and ageLOC anti-aging brands, and it operates in nearly 50 markets globally. Rhyz Inc., a strategic investment arm of Nu Skin Enterprises, continues to promote innovation in the beauty, wellness, and lifestyle sectors."
InvestingPro Insights
Nu Skin Enterprises (NYSE:NUS) has shown a dynamic financial landscape over the past months. The company's market capitalization currently stands at $376.24 million, reflecting the market's current valuation of the firm. Despite a challenging environment, Nu Skin has demonstrated a commitment to shareholder returns, as evidenced by its impressive track record of raising its dividend for 23 consecutive years, a testament to its financial discipline and stability.
InvestingPro Tips reveal that management has been actively engaged in share buybacks, signaling confidence in the company's value proposition. Additionally, Nu Skin's gross profit margin remains robust at 71.14% for the last twelve months as of Q2 2024, underscoring the company's ability to maintain profitability in its operations. However, investors should be aware that analysts have revised their earnings expectations downwards for the upcoming period, and a sales decline is anticipated in the current year. This juxtaposition of strong profit margins against a backdrop of adjusted expectations paints a nuanced picture for potential investors.
From a valuation perspective, the P/E ratio stands at -2.57, which may raise eyebrows. Yet, looking ahead, the adjusted P/E ratio for the last twelve months as of Q2 2024 is 32.15, suggesting that investors are expecting future earnings growth. Moreover, the stock's price has experienced significant volatility, with a 1-month price total return of -15.25% and a 1-year price total return of -65.21%, reflecting the market's reaction to both internal corporate actions and external economic pressures.
For those interested in deeper analysis, InvestingPro provides additional insights and metrics. Currently, there are 15 more InvestingPro Tips available for Nu Skin, offering a comprehensive view of the company's financial health and market performance. These insights can be accessed by visiting the dedicated InvestingPro page for Nu Skin at https://www.investing.com/pro/NUS.
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