Banking & Finance, Human Resources, and Manufacturing

Amway appoints CFO

October 27, 2017
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Nick Thole
Nick Thole. Courtesy Amway

Amway has promoted one of its executives to the role of chief financial officer.

The Ada-based direct-selling company said yesterday it appointed Nick Thole to the position.

Thole had been serving in the role on an interim basis following the departure of former CFO Mark Stevens on Aug. 7.

“Nick is uniquely qualified to lead our financial efforts,” Amway Chair Steve Van Andel said. “His time at Amway world headquarters has focused on several distinct areas — including mergers, acquisitions, tax and audit — while his years in the Europe, India and Africa region built an expertise in the financial management of diverse affiliate markets that will benefit our global enterprise.”

Responsibilities

Thole will provide comprehensive financial oversight and be responsible for developing strategic financial objectives to ensure successful financial performance.

He will have direct responsibility for Amway’s balance sheet, capital structure and the financial reporting and control process, including tax, treasury, accounting and corporate financial reporting and business planning.

Thole’s background

Thole has served as CFO of the company’s Europe, India and Africa region, VP of internal audit and VP of financial planning and analysis.

He joined Amway in 2008 as manager of mergers and acquisitions.

Before Amway, Thole worked as an investment banker at Oppenheimer & Co. and as an investor relations consultant at SM Berger & Co./Seyferth Associates.

Thole is a board member for Holland Home-Christian Living Services.

He earned a B.S. in journalism from Northwestern University in 1996 and an M.B.A. in finance from Michigan State University in 2004.

Amway

Amway is an $8.8-billion international direct-selling business with various brands: Nutrilite vitamin, mineral and dietary supplements; Artistry skincare and color cosmetics; eSpring water-treatment systems; XS energy drinks; and more.

The company’s annual sales figure includes revenue from direct-selling operations and other business holdings.

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