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Mannatech has announced that Patrick Park is the new General Manager of their Korean business operations.

“We are extremely pleased to announce Patrick’s addition to our international management team,” said Randy Bancino, senior vice president, global business operations for Mannatech. “Patrick’s passion for our business and global operations experience will be valuable assets as we expand our international presence.”

Park brings 13 years of experience in strategic planning, business unit development, new country expansion project management and local initiative strategies. Most recently as managing director of Agel Enterprise, Park developed and implemented a new market positioning strategy for initial entry into the Korean market from pre-opening to post opening phases. As a manager of the new country opening team for Herbalife Ltd., he successfully launched more than 10 countries around the globe. Park has also contributed to the strategic management and operational oversight of the company's local in-country business development and operations.

Source: Business Wire

Pegasus News:

Mannatech, Inc. announced today the termination of Raymond Gebauer, a top independent sales Associate, following his recent conviction for tax evasion charges.

"Mr. Gebauer's conviction places him in violation of his Associate agreement with Mannatech," said Terry Persinger, President and COO of Mannatech. "We expect, and the Company's policies require, all Mannatech Associates to comply with applicable laws, including tax laws."

Mr. Gebauer had been a Mannatech independent sales Associate since 1994.

Here is the statement from Mannatech:

Mannatech, Incorporated (NASDAQ: MTEX), a leading developer and provider of dietary supplements and skin care solutions, today announced a number of compliance initiatives related to sales and marketing activities utilized by the Company's independent sales associates. "On behalf of Mannatech's Board of Directors and executive management team, we are announcing that significant steps have been taken to address a wide range of issues which have been under review," said Stan Fredrick, lead director of the Company's Board of Directors. "Our management team will continue reviewing Company policies and procedures for ongoing improvements and industry best practices." The following list outlines these initiatives

The top executive of Mannatech Inc. told analysts Friday that he hasn't heard from the Texas attorney general's office, which has said it's looking at whether the company made unsubstantiated claims about its products.

As the maker of nutritional supplements reported a nearly 11 percent boost in third-quarter earnings, the man who helped expand Mannatech into a multinational concern said he doesn't think it's done anything wrong.

"It's the ebb and flow of the business," chairman and chief executive Sam Caster said when asked about recent news reports about the attorney general's probe and a class-action lawsuit against the firm.

"We are always going to be exposed to some level of negativity, whether it's someone's opinion or whatever is going on. Those things come and go," he said.

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