SPRINGVILLE, UT (April 5, 2010)—After six years of service at Neways, Chief Executive Officer Eric Larsen has decided to step down for personal reasons. While Neways owner Golden Gate Capital searches for a new CEO, Chief Financial Officer Scott St. Clair will serve as interim CEO.
“We thank Eric for his contributions to the company, his tireless work ethic, and his dedication to Neways’ distributors, and we look forward to his continued contributions to the business in a consulting role,” said Prescott Ashe, Managing Director of Golden Gate Capital and Chairman of the Board at Neways.
“Neways is a critical investment for Golden Gate Capital, and we remain enthusiastic about the company’s prospects,” Ashe said. “We have ample capital to invest in the business to fund its future growth, and we are fully committed to the success of the company and, more importantly, its distributors.”
In his departure message, Eric Larsen said: “I leave Neways with nothing but positive feelings for this company and its future. Our sale to Golden Gate Capital in late 2006 was a fortunate event, both for our distributors and our mission. We have transformed to a truly world-class health and wellness company. I’m grateful for the opportunity I had to oversee these improvements.”
Interim CEO Scott St. Clair said: “I’m passionate about Neways, and I’m eager to do whatever I can to help the company keep progressing. This is an incredible company with a unique mission, and our distributors deserve the very best. We will continue to introduce life-changing products, expand our markets, improve our distributor support systems, and help new generations of business-builders emerge. We’ll miss Eric, and we wish him the very best.”
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