NEW YORK (Reuters) - Herbalife Ltd <HLF.N>, a nutritional supplements marketer, said its president and chief operating officer (COO) had quit after coming under fire for misrepresenting his academic credentials.
The company, which also reported higher quarterly profit, said on Thursday Gregory Probert resigned effective April 30, days after it came to light he had not completed his MBA degree, as stated in his biography.
For the first quarter, Herbalife posted a net profit of $62.4 million or 93 cents a share, compared with $41.2 million or 55 cents a share a year earlier.
Sales rose 19 percent to $604.4 million, aided by a favorable impact from currency fluctuations and strong sales in countries such as China and Italy.
For the second quarter, Herbalife expects to earn in he range of 89 cents to 92 cents a share; for the full year it forecast earnings of $3.52 to $3.57 a share.
(Reporting by Aarthi Sivaraman; Editing by David Holmes)
