Mannatech's New Management Team Poised for Future Growth.Business Editors & Health/Medical Writers BIOWIRE2K COPPELL, Texas--(BW HealthWire)--June 16, 2000 Mannatech Inc. (Nasdaq:MTEX MTEX Mega Texel ) today announced that Sam Caster cast·er n. 1. One that casts: a caster of nets. 2. also cas·tor A small wheel on a swivel, attached under a piece of furniture or other heavy object to make it easier to move. , company co-founder, has been named Global Vision Architect. "We are excited that Sam has agreed to continue on with Mannatech in this new capacity," said Robert Henry
Born into a farming family at St. , Chief Executive Officer. Caster's new role was made possible when Mannatech's board made the decision to add additional depth to the firm's management team as it begins an ambitious expansion program. Mannatech develops proprietary nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. and topical topical /top·i·cal/ (top´i-k'l) pertaining to a particular area, as a topical antiinfective applied to a certain area of the skin and affecting only the area to which it is applied. top·i·cal adj. products which it sells through a network marketing system throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and internationally. Mannatech recently named Robert Henry to the post of chief executive officer and Terry Persinger as president. Henry's broad experience includes highly successful stints in senior positions at Avon and as Corporate Controller Worldwide for Amway. Terry Persinger, responsible for day-to-day operations, joined Mannatech with 30 years of general management, operations, and research and development experience at the Goodyear Tire and Rubber Co. Persinger was vice president and general manager of Goodyear's Engineered Products Division. "Terry is uniquely qualified to see Mannatech through this challenging time of domestic growth and international expansion," Henry said. "This new arrangement will enable us to benefit from Sam's vast experience, keen insight and, most of all, his close relationships with our associates who make up the backbone of the company. Mannatech will remain a leader in the nutritional supplement industry," he added. Strong leadership is a hallmark hallmark, mark impressed on silverwork or goldwork to signify official approval of the standard of purity of the metal, also called plate mark. The hallmark was introduced by statute in England in 1300 and enforced by the Goldsmiths' Hall, London. of Mannatech, Henry noted. "Sam Caster set the leadership standard for the company's success. In just six years it grew from a grass roots grass roots pl.n. (used with a sing. or pl. verb) 1. People or society at a local level rather than at the center of major political activity. Often used with the. 2. The groundwork or source of something. idea to an international company with annual sales reaching $180 million. We look forward to an equally prosperous future." Henry said Caster's new duties include: -- Acting as corporate liaison to Mannatech's independent Associates. -- Assisting the management team in developing sales and marketing devices. -- Appearing at corporate-sponsored events to act as a spokesperson as requested. -- Assisting with Associate-sponsored events. -- Promoting Mannatech in a positive manner. -- Advising the management team as requested. Caster noted that his new role will "take me out of all the day-to-day responsibilities and permit me to devote more of my energies to the two things I like best, my charitable activities with MannaRelief, and helping Mannatech grow." The return of Mr. Caster to a Board position will be considered at the next scheduled meeting of the full Board of Directors, set for later in the summer. "It will be a pleasure to continue my relationship with our Associates and work with Bob and Terry. Mannatech's future is brighter than ever. Mannatech will be able to take full advantage of the strengths and experience Bob and Terry bring to their jobs," he added. Caster co-founded Mannatech in 1993 with several scientific and financial partners. The company later developed the Ambrotose complex, Mannatech's proprietary blend of plant-derived carbohydrates Carbohydrates Compounds, such as cellulose, sugar, and starch, that contain only carbon, hydrogen, and oxygen, and are a major part of the diets of people and other animals. Mentioned in: Laxatives carbohydrates, n. that contain monosaccharides. These are known to play an important role in cell-to-cell communication, one of the most critical functions of the immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. of the body. Ambrotose is the foundation of Mannatech's nutritional products. Caster's business experience and understanding of network marketing and the nutritional supplement industry enabled Mannatech to grow into a leading nutraceutical nu·tra·ceu·ti·cal n. A food or naturally occurring food supplement thought to have a beneficial effect on human health. nutraceutical company. Mannatech sales exceeded ten million dollars a month after less than four years. In May, the Dallas Morning News listed Mannatech as the 109th largest public company in the Dallas/Fort Worth area. Mannatech's 1999 revenues reached $180 million. Some of the statements contained in this announcement may constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Securities Exchange Act of 1934 and that are subject to certain events, risks, and uncertainties that may be outside the control of the company. In some cases forward-looking statements may be identified by terminology such as "may," "could," "continuous," or the negative of such terms. Although we believe that the expectations and beliefs reflected in the forward-looking statements are reasonable, we cannot guarantee future events. |
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