ADA — Direct-selling giant Amway Corp. has hired a new outside CEO, the company announced this week.
Milind Pant, who previously served as president of Yum! Brands’ Pizza Hut International, will start the position Jan. 2, 2019 and report directly to Amway’s board of directors.
“Milind brings a wealth of experience and enthusiasm to help lead Amway to even greater heights,” Amway Chairman Steve Van Andel said in a statement. “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.”
Prior to Amway, Milind led the international division for Pizza Hut and oversaw more than 9,000 Pizza Hut stores outside the U.S. Before that, he spent 14 years with Unilever plc, a Rotterdam, Netherlands-based consumer goods company.
The change in leadership, with Van Andel and President Doug DeVos shifting to co-chair roles, will position Milind to assume “management and leadership of the business,” according to a statement.
Milind will take over the privately-held company as it seeks to break out of an ongoing sales slump. Amway revenues dipped for a fourth consecutive year in 2017, when it generated $8.6 billion in global sales.
While sales have slumped more than 27 percent since peaking at $11.8 billion in 2013, the company said in February that it expected to see a turnaround in its business this year.
News of Milind’s hiring also comes just weeks after Amway acknowledged it would close two plants in Ada by the end of 2019 as part of a restructuring of its manufacturing operations, as MiBiz first reported.