Flower Mound, Texas-based Mannatech (NASDAQ: MTEX) announced in December that its board of directors approved a share repurchase program to acquire up to $1,000,000 of its outstanding common stock. The announcement said the timing, volume and nature of the share repurchases will be at the discretion of management and dependent on market conditions. The company intends to finance the repurchases through available cash.
Heidi Thompson, who previously served as president of Scentsy, will now share the title of co-CEO with Orville Thompson. The husband and wife team founded the company 15 years ago and have led Scentsy as equal partners, though unofficially. They have since scaled back their involvement in daily operations and will continue to focus on long-term, high-level contributions to company growth.
Dan Orchard has been promoted to president of Scentsy. He was previously general manager of emerging markets and has been an integral part of Scentsy’s executive team for 10 years, with strong engagement and interactions with consultants in multiple roles and leading international expansion. His prior direct selling experience includes working with Nu Skin.