Michael Johnson, Herbalife’s Chairman and CEO, took a big step today by going on Jim Cramer’s Mad Money show this afternoon.
Cramer, who is known for putting CEO’s to task, didnt hold back with Johnson at all. First Cramer asked about the Probert resignation which he answered and said it was a sad day. He even mentioned “FDI” aka Fraud Discovery Institute but never mentioned Mankow by name or the full name of the organization which was brilliant.
When asked about the lead issue, Johnson said that everything has been tested and that the issue is a non-issue. Even when asked about the Spanish Ministry claim, Johnson didn’t duck at all and said it was based on a article from 2004 and they have dealt with it. He also mentioned that not a single Herbalife product has been pulled anywhere in the world.
Johnson did great. He answered every question, didnt flinch and came across incredibly professional as he usually does. He was very impressive in defending both the allegations as well as the question about potentially taking the company private. Cramer even suggested that may be the best course of action to which it seemed Johnson seems like they have discussed it internally but doesnt seem like that is happening too quickly.
Big kudos for Johnson who was in NYC at the Avondale Conference today, for going on Cramer’s. You have to respect the guy for meeting the issue head on and addressing it using a national platform. Great job!
You can see the full video here which is worth a look.
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