The Hain Celestial Group, Inc. (HAIN), a health and wellness company, said on Tuesday that Wendy Davidson is stepping down as Chief Executive Officer with effect from this morning, May 7.
Subsequently, the company has appointed Alison E. Lewis, a member of the Board since September 2024, as interim CEO.
In addition, Hain also announced that its Board reviewing its portfolio with the assistance of independent financial advisor, Goldman Sachs & Co. The strategic review will consider a broad range of strategic options to enhance value.
Commenting on this process, Dawn Zier, Chair of the Board said: "In light of recent performance, the Board has decided that a thorough evaluation of the company's strategy and portfolio is warranted to determine the best approach to maximize shareholder value."
The Group further clarified that there is no definitive timetable for completing this strategic review.
HAIN was down by 19.48 percent at $2.230 in the pre-market trade on the Nasdaq.
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