USANA chief executive steps down

Published: Thursday, July 24, 2008 12:11 a.m. MDT Myron Wentz has stepped down as chief executive officer of USANA Health Sciences Inc., the company said Wednesday. His son, Dave Wentz, who has been the company's president, is now CEO. The elder Wentz will continue as chairman of the company's board of directors. The change comes a week after a pair of groups controlled by Myron Wentz terminated their offer to buy the company's outstanding shares because it appeared they would not get at least 90 percent of the company's shares — a condition in their tender offer. A filing with the Securities and Exchange Commission indicated that they were able to secure about 81 percent at the time of the offer withdrawal. Gull Holdings Ltd. and Unity Acquisition Corp., led by Wentz, said in May that they would make a tender offer $26 per... [read full story]