Top Herbalife Salesman Dead in Apparent Suicide

by Christopher Freeburn | August 19, 2013 12:17 pm

Top Herbalife Salesman Dead in Apparent Suicide

herbalife 300x224 Top Herbalife Salesman Dead in Apparent Suicide[1]Last year, John Peterson earned an estimated $3 million as a sales man for embattled nutritional products company Herbalife (HLF[2]). But earlier this month, the man who had been named to the company’s exclusive “Founder’s Circle” of leading distributors, committed suicide[3].

Police say the 58-year-old Peterson was found dead in his truck outside his Steamboat Springs, Colo., ranch. He apparently killed himself with a single gunshot to the head, the New York Post notes.

Investors didn’t like the news, sending Herbalife shares down more than 3% in Monday mid-day trading.

In a memo to company employees, Herbalife CEO Michael Johnson said Peterson died after a “tragic accident.”

Peterson once headed Work From Home Inc., which recruited new sales people for Herbalife. Similar lead-generation businesses drew complaints from federal regulators[4]. The company ceased buying and selling leads earlier this year.

The company has denied accusations from activist investor Bill Ackman that it is a pyramid scheme[5].

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/02/herbalife.jpg
  2. HLF: http://studio-5.financialcontent.com/investplace/quote?Symbol=HLF
  3. committed suicide: http://www.nypost.com/p/news/business/death_of_dream_HjMELCEfcyEJiGXxP9PN4N
  4. drew complaints from federal regulators: http://investorplace.com/2013/02/herbalife-shares-fall-on-report-of-ftc-probe/
  5. that it is a pyramid scheme: http://investorplace.com/2012/12/ackman-blasts-herbalife-as-a-pyramid-scheme/

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