Mannatech, Incorporated confirmed the permanent appointment of Yasir Haider as Chief Financial Officer on June 3, 2026, formalizing his transition from interim status and following the departure of predecessor James Clavijo. The appointment reflects the company's confidence in Haider's ability to navigate its finance function during a period of operational and financial headwinds that have weighed on the Nasdaq-listed wellness company's performance throughout 2025.
Haider, who joined Mannatech as Controller on January 6, 2025, was appointed Interim CFO on March 20, 2026, to facilitate the transition after the company notified Clavijo on March 19 that it would not renew his employment agreement expiring June 30, 2026. In a statement, Landen Fredrick, Mannatech's President and Chief Executive, said Haider "has earned this opportunity through the way he has stepped into the role, brought discipline to our financial processes, and helped us manage the business with greater focus and accountability." The appointment was made internally without disclosed involvement of an external search firm, indicating the board's assessment that Haider had sufficiently demonstrated capability during his three-month interim tenure. No search process was disclosed publicly.
Haider brings more than 15 years of finance experience across healthcare, technology and professional services sectors. He holds an MBA from West Texas A&M University and began his career in public accounting. His previous senior roles included Chief Financial Officer and Financial Controller positions where he oversaw global financial operations, multi-entity consolidations, SEC reporting, mergers and acquisitions, capital planning and the development of scalable financial infrastructure. He has worked with companies managing complex, multi-jurisdictional accounting structures and experience navigating system implementations and operational efficiency improvements.
Mannatech is a global health and wellness company that develops and sells nutritional supplements, skin care and anti-aging products, and weight-management products through network marketing channels and e-commerce. Founded in 1993 and headquartered in Flower Mound, Texas, the company operates in 25 markets worldwide and maintains a direct selling business model with associates and preferred customers. The company is traded on Nasdaq under the symbol MTEX with a current market capitalization of approximately $10 million.
The appointment carries implicit significance given Mannatech's recent financial deterioration. The company reported a net loss of $15.2 million for 2025 on net sales of $108.0 million, a decline of 8.3 percent compared to 2024. The company faced headwinds including a new ordering system malfunction in North America, supply chain cost pressures that eroded gross margins, weakened economic conditions in Asia-Pacific markets, and unfavorable foreign exchange movements. Gross profit margins compressed to 75.3 percent in the fourth quarter from 80.5 percent in the prior year. The company also reported recruiting declined 23.1 percent in the fourth quarter of 2025. In this context, Haider's task is to strengthen financial controls, enhance reporting discipline and support operational cost management as the company works toward stabilization. His appointment to the permanent role signals the board's expectation that his efforts thus far warrant continuation in the position.
