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Herbalife CFO: Don't read anything into audit board chair leaving

Herbalife CFO John DeSimone said in an interview with CNBC that investors should not read anything into the departure of Leroy Barnes as the firm's audit board chair.

"Leroy is ingrained in this company," DeSimone said on CNBC's "Halftime Report." "He's been a board member for 10 years."

Shares of Herbalife sold off more than 20 percent at one point, a day after reporting worse-than-expected earnings results for the third quarter on Monday afternoon. The nutritional-supplement company posted earnings per share of $1.45, while Wall Street consensus was $1.51. Revenue was also light at $1.26 billion versus estimates for $1.32 billion.

On Friday, Herbalife announced that it had agreed to settle a lawsuit alleging illegal marketing practices.

"People settle lawsuits for all...