On September 6, 2022, Nature's Sunshine Products, Inc. announced that Mr. Joseph W. Baty, the company's executive vice president will retire from the company, effective September 30, 2022. The company also announced the promotion of Mr. Jonathan D. Lanoy to the position of senior vice president, Finance effective immediately. Mr. Lanoy will serve as Interim Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer until such time as the company appoints a chief financial officer.

Mr. Lanoy, age 47, has served as Vice President of Finance and Corporate Controller at the Company since February 2017, and has held various other positions in the finance department of the Company since 2008. Prior to joining the Company, Mr. Lanoy was an assurance manager at the public accounting firm of Ernst & Young. Mr. Lanoy is a Certified Public Accountant and holds a Masters of Professional Accountancy and a Bachelor of Arts degree in Accounting from Weber State University.

On September 6, 2022, Mr. Lanoy entered into an employment agreement (the “Employment Agreement”) pursuant to which Mr. Lanoy will receive an annual base salary of $269,000 and have a target annual bonus percentage of forty percent of his base salary. Mr. Lanoy also entered into a letter agreement (the Letter Agreement) relating to his service as Interim Chief Financial Officer pursuant to which Mr. Lanoy will receive a one-time success bonus of $150,000 to be paid within five business days of the successful filing of the company's Annual Report on Form 10-K for the year ending December 31, 2022, subject to his continued employment through such date, and a grant of restricted stock units with a grant date value of $150,000 based on the closing price of the company's common stock on the closing date, which will vest in two equal installments over the two-year period following the grant date.