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December 01, 2017

Executive Announcements

Executive Announcements, December 2017

Click here to order the December 2017 issue in which this article appeared or click here to download it to your mobile device.

Amway Names Nick Thole Chief Financial Officer

Amway has appointed Nick Thole to the role of Chief Financial Officer.

As a member of the executive team, Thole will provide broad financial oversight for developing strategic financial objectives to ensure the company’s continued financial performance. In this position, Thole also will have direct responsibility for Amway’s balance sheet, capital structure and the overall financial reporting and control process with broad oversight for tax, treasury, accounting and corporate financial reporting and business planning.

Thole previously served as Chief Financial Officer of the company’s Europe, India and Africa region, Vice President of Internal Audit and Vice President of Financial Planning and Analysis. He joined Amway in 2008 as Manager of Mergers
and Acquisitions.

Prior to Amway, Thole worked in the capital markets as an investment banker and investor relations consultant. He has a Bachelor of Science degree in journalism from Northwestern University and an MBA in finance from Michigan State University.

Isagenix’s Jim Coover Receives CEO of the Year Award

Jim Coover, Co-Founder and CEO of Isagenix International, was honored at the 2017 Arizona Corporate Excellence (ACE) Awards as the 2017 CEO of the Year. The event is held by The Phoenix Business Journal.

“I am extremely honored to accept this award on behalf of the entire Isagenix family,” said Coover. “We are so proud to be part of this outstanding community, and I can’t think of a better place to have our global headquarters than here in Arizona. It means so much to me to receive this amazing honor from a business community that I respect so much.”

Upon receiving the award, Coover offered this advice to entrepreneurs: “Dream big, surround yourself with great people and execute with integrity.”

Coover has successfully led several companies, serving more than 7 million customers and exceeding $1 billion in sales. In 2001, he and his wife, Kathy, co-founded Isagenix, and the couple remains actively involved in the day-to-day operations in 15 markets across the globe. In 15 years, Coover has led Isagenix to cumulative revenue of more than $5 billion.

Isagenix, based in Gilbert, Arizona, also was recognized at the ACE event as a Top Private Arizona company, ranking No. 4 on the annual list. The awards program recognizes companies based on their overall revenue and revenue growth.

Stream Announces David Faranetta as Chief Financial Officer

Dallas, Texas-based Stream (formerly Stream Energy), a provider of connected life services, has hired David Faranetta as Executive Vice President and Chief Financial Officer.

Faranetta will oversee the company’s financial planning and reporting, accounting, tax and treasury functions. A veteran of the energy industry, Faranetta brings with him a proven track record of strategic executive leadership and a reputation for aligning people and resources to drive economic growth, according to company executives.

“I’ve been watching Stream for many years and am excited to finally be a part of this dynamic and fast-paced team,” Faranetta said. “I’m thrilled to join a team that will fuel our company’s growth and performance in the global energy industry.”

As CFO, Faranetta is responsible for driving Stream’s economic growth and overseeing all financial operations. He has a deep knowledge of and experience in financial, treasury and operations management, performance and risk management, and regulatory relations.

Previously, Faranetta served as CFO of TXU Energy and electricity generator and wholesaler Luminant. He comes to Stream after serving as Senior Vice President of Planning and Treasury at Dallas-based Vistra Energy.

Plexus Hires Mary Beth Reisinger as Chief Human Resources Officer

Scottsdale, Arizona-based Plexus Worldwide, a health and wellness company, has hired Mary Beth Reisinger to a newly established position of Chief Human Resources Officer .

In this role, Reisinger will oversee the human resources activities of the rapidly growing company that has expanded from a dozen employees in 2011 to more than 400 full-time employees today. 

“I’m excited to join the leadership team of this rapidly growing company as it continues to expand,” said Reisinger. “I look forward to lending my expertise in recruiting dedicated leaders and team members to help the company attain its next level of success locally, nationally and globally.”

Reisinger has spent the past 17 years guiding and leading the human resources team at AAA Arizona.

In other company news, Chief Marketing Officer Cindy Latham has been selected by The Phoenix Business Journal as CMO of the Year for its inaugural C-Suite Awards. Latham was one of three finalists to be selected for the CMO category.

Latham has been the CMO at Plexus since February 2016. She is a marketing executive with more than 29 years of experience leading global marketing, research and development teams within the direct selling channel. Since joining Plexus, Latham has spearheaded new product initiatives, which generated $66.4 million in sales for the company.

4Life Research Names Danny Lee New CEO

Sandy, Utah-based 4Life Research has named Danny Lee as the company’s new President and CEO. Steve Tew, who has served as President since 2004 and CEO since 2014, has been appointed Vice Chairman of the Board.

In addition to other chief executive responsibilities, Lee will strategize new and innovative ways to promote the growth of distributors around the world and continue the company’s support for its hundreds of thousands of distributors and customers.

“I have the utmost confidence in passing the responsibility of this office to Danny, whom I’ve known and worked with closely for many years,” said Tew. “He has continually demonstrated tremendous leadership skills and is one of the most talented individuals I have ever known.”

Lee began at 4Life in 2008 as Chief Operating Officer. In 2015, he assumed the role of Chief Marketing Officer. During his years at 4Life, Lee has helped improve 4Life Transfer Factor quality and manufacturing, executive marketing initiatives and customer service practices.

Dr. Myron Wentz Science Center Dedicated at North Central College

USANA Founder Myron Wentz, who is known for his work in microbiology and the life sciences, was honored after making a sizable donation to North Central College for its new science center, The Dr. Myron Wentz Science Center.

“The Wentz Science Center will transform and elevate the experience of every North Central College student,” President Troy D. Hammond told the Chicago Tribune. “Dr. Wentz’s remarkable gift provides a significant leap toward fully funding the science center and toward our long-term $150 million Brilliant Future Campaign goal.”

The new $60 million Wentz Science Center encompasses 125,000 square feet and has 18 teaching labs, 16 research labs, 15 classrooms, an auditorium, 53 faculty offices and 19 student social areas.

This isn’t the first building on campus that bears the Wentz name. In 2008, the Wentz Concert Hall and Fine Arts Center was opened, the result of a previous $10 million donation by Wentz.

Beautycounter CEO Gregg Renfrew Recognized by Goldman Sachs

Goldman Sachs is recognizing Beautycounter Founder and CEO Gregg Renfrew as one of the 100 Most Intriguing Entrepreneurs of 2017 at its Builders + Innovators Summit. Goldman Sachs selected Renfrew as one of 100 entrepreneurs from multiple industries.

Renfrew founded Santa Monica, California-based Beautycounter in 2011, focusing on beauty and personal-care products. Since founding the company, she has advocated for stronger federal regulations to ensure the safety of all skincare and cosmetic products.

“I am proud and honored to be selected by Goldman Sachs as one of the top 100 most intriguing entrepreneurs of 2017,” said Renfrew. “As the leader in the cleaner and safer beauty space, this recognition is a testament to the incredible work we are doing at Beautycounter to get safer and high performing products into the hands of everyone.”