Herbalife Ltd. shares were up 2.67% at $12.71 Tuesday after the company announced a new $250 million share repurchase authorization. Herbalife's board approved the program for three years, allowing purchases through open-market transactions, privately negotiated deals or accelerated share repurchase agreements. Chief Financial Officer John DeSimone said the authorization reflects confidence in the company's strategy, financial outlook and sustainable free cash flow generation. Herbalife said it will balance buybacks with organic growth, strategic opportunities and financial flexibility. The authorization does not require purchases and can be suspended, modified or ended at any time. DeSimone, who is set to become interim CEO, will participate in Herbalife's Barclays Global Consumer Conference presentation on Sept. 9 alongside incoming CFO Scott Schaefer and investor relations head Samantha Holway.