Nu Skin Enterprises Inc. said Wednesday that Chief Executive and President Truman Hunt will leave the company in mid-2017, after about 17 years in the role, to take a three-year leadership assignment with the Church of Jesus Christ of Latter-day Saints.

Mr. Hunt has led the Utah-based company for the majority of its 32-year history since its founding in 1984. The company said current Chief Financial Officer Ritch Wood will become CEO when Mr. Hunt leaves, and a new CFO will be named before Mr. Wood takes the CEO role. President...