Nu Skin Enterprises has announced a senior management transition plan. Truman Hunt, who has served as the company's president and chief executive officer since 2003, has accepted a three-year leadership assignment for The Church of Jesus Christ of Latter-day Saints beginning in mid-2017.

The Nu Skin Board of Directors has also announced that Ritch Wood will become the company's chief executive officer upon Hunt's departure, and Ryan Napierski will become the company's president. The company expects to name a successor to Wood as chief financial officer prior to his becoming chief executive officer.

"Truman has established a tremendous legacy at Nu Skin that we will continue to build upon going forward," said Steven J. Lund, chairman of the board. "Through Truman's leadership and vision, Nu Skin has achieved extraordinary success and is extremely well positioned for the future. We are grateful for Truman's contributions and dedication to Nu Skin.

"Ritch and Ryan have been key leaders at Nu Skin for many years and have been deeply involved in establishing our strategic vision for the future," Lund continued. "We are pleased to enjoy significant experience in our management team and are confident that Ritch and Ryan are well prepared to lead our next wave of growth."