10 things you should know about Nu Skin’s new CEO Ritch Wood | The Source
Get to Know Nu Skin’s New CEO: Ritch Wood
March 24, 2017
You may know that Nu Skin recently appointed Ritch Wood as its new CEO. He’s been part of the Nu Skin family for over two decades as CFO, as well as the company’s new market development and finance teams. What you may not know is that this Idaho native loves pizza, traveling to Italy, and doesn’t settle for just average. We sat down with Ritch to get to know him better and he shared with us everything from his definition of success and innovation to his favorite hobbies and food.
The Source: What does “success” mean to you?
Ritch: Success to me is to achieve our highest potential while helping others along the way. I define success more by what we do for others than what we do for ourselves. But I also realize that if I am not successful in my own personal life – it is really hard to be in a position to help others.
TS: To whom do you attribute your success?
R: I have been influenced by so many good people. It all begins with my parents and my wife. Beyond these influences, my children, my coworkers and friends. I am surrounded by people who make me better.
TS: How do you strike the right balance between your personal and professional life?
R: This is never easy – but it is critical to have good balance. Generally, the problem is not over-balancing to the professional side – but rather keeping good balance on the personal side. I try to involve my family in what I do, stay involved in what my kids are doing, and ensure we spend time and vacations together as a family. The one thing I try to do to keep balance is to get up very early in the morning in order to do my own personal things...so that these things don’t take time away from focusing on other responsibilities.
TS: What are your favorite hobbies?
R: Sports, sports and sports. I love being with family. We love to exercise and travel together. I love to work out – running particularly keeps me feeling good and keeps my sanity. We love BYU sports. I have the greatest wife and kids...and this is truly my hobby.
TS: Where is your favorite place in the world and why?
R: I have lots of favorite places to visit – Hawaii, Italy, Disneyworld. But my favorite place is where my family is – and generally that is at home.
TS: What is your favorite food?
R: I love Italian pizza – from a real Italian Pizzeria or our pizza oven at home.
TS: What is your favorite Nu Skin product and why?
R: I have used LifePak for years and years. Together with ageLOC Youth – this is my “go to” combo. Several others are also at the top of my list including soaps and shampoo, hair gel, LumiSpa, and g3. I am a product of our products.
TS: What’s your favorite quote and why?
R: “Average is the enemy of excellence.” - I believe we live below our potential often because we get satisfied with being average.
TS: What’s your definition of innovation?
R: Making life better . . . often this is disruptive and doing things in ways others have not thought about. Innovation can be small or significant – but the beauty and magic of innovation in a company is when all are participating in innovation. Innovation allows us to reach potential we didn’t know we even had.
TS: What’s something a lot of people might not know about you?
R: I grew up on a dairy farm in Weiser, Idaho. This is deep inside of me and has a strong gravitational pull to the way I think and hope to behave.