After nearly 60 years as a family-run company, Amway has named a global food industry executive as its CEO.
The Ada-based direct-selling company said today it hired Milind Pant — former president of Pizza Hut International — for the role.
Pant will assume overall leadership and management of the company, effective Jan. 2, 2019.
He will report to and hold a seat on the Amway board.
“Milind brings a wealth of experience and enthusiasm to help lead Amway to even greater heights,” said Steve Van Andel, chairman, Amway. “We’re confident his leadership and strong track record of driving growth and transformational change will go far in advancing Amway’s focus on empowering entrepreneurs and meeting customer needs with exclusive and innovative products.”
“The Van Andel and DeVos families remain committed to building on our fathers’ legacy of bringing to all people an opportunity to have a business of their own,” said Doug DeVos, president, Amway. “Given Amway’s strong foundation and leadership in the industry, we’ve never been more confident in the business’ future, and we’re excited to welcome Milind to the Amway family.”
Amway has been co-led by Van Andel, who has served as Amway chairman since 1995, and DeVos, who has served as Amway’s president since 2002, in what Amway has referred to as “the Office of the Chief Executive.”
Both will remain on Amway’s Board of Directors, where they will serve as co-chairs.
The title of president will no longer be used at Amway.
Pant joins Amway from Yum! Brands, where he most recently served as president of Pizza Hut International, leading the international division through growth across Asia, India and Europe, while overseeing more than 9,000 Pizza Hut locations outside the U.S. and the advancement of e-commerce and digital strategies.
Before joining Yum! Brands, Pant spent 14 years with Unilever in a variety of executive roles, including VP of foods for Africa, the Middle East and Turkey.
He and his wife currently live in Dallas.
Amway has seen several consecutive years of sales declines since 2013, when it reached all-time high of $11.8 billion in annual revenue.
In 2017, the company ended the year with $8.6 billion in sales, down from $8.8 billion in 2016, $9.5 billion in 2015 and $10.8 billion in 2014.
The company’s annual sales figure includes revenue from direct-selling operations and other business holdings.
Founded in 1959, Amway is a family-owned direct-selling company.
It has several key brands: Nutrilite vitamin, mineral and dietary supplements; Artistry skin care and color cosmetics; eSpring water treatment systems; and XS energy drinks.