ADDISON, Texas -- Boo Koo Holdings Inc. said that it has appointed Gil Cassagne, formerly CEO of Cadbury Schweppes Americas Beverages, to the position of chairman. Cassagne had recently joined the company's board. Cassagne replaces Steven B. Solomon as chairman. Solomon will remain a director.
"In the short period of time since I have joined the company's board, I have become excited by the numerous opportunities available to the company to create a broad-based consumer beverage company focused on health, wellness and functional benefit beverages,'" said Cassagne. "I would also like to [image-nocss] thank Steve for the role that he has played in bringing me in and helping the Company evolve to this point. I welcome his counsel as a member of the board."
Cassagne has more than 20 years of experience in the beverage industry with companies such as Procter & Gamble, The Dr Pepper Co. and Cadbury Schweppes Americas Beverages. He most recently held the position of CEO of Cadbury Schweppes Americas Beverages, a more than $5 billion division of Cadbury Schweppes, where he also served as part of the executive board of the multinational consumer products company. Cassagne has held numerous other positions within Cadbury including the regional president of Asia Pacific and the president of Motts.
The company recently appointed Cassagne; Jack Belsito, formerly president of Snapple Distributors Inc.; and Joe Bayern, formerly Chief Strategy Officer of Cadbury Schweppes Americas Beverages, to its board. The executives have also assumed the role of consultants for the company, advising it on business opportunities.
Addison, Texas-based Boo Koo—which announced that it was changing its name to Performing Brands Inc., reflecting its objective to transition from an energy beverage maker to a broader-based consumer beverage company focused on health, wellness and functional benefit beverages—currently develops, produces, markets and distributes alternative beverage category energy drinks under the Boo Koo and Gazzu brand names. Boo Koo currently sells and distributes its products in parts of the United States and Canada through its network of regional bottlers and other direct store delivery distributors, including independent Coca-Cola, Cadbury Schweppes and other wholesale distributors. Gazzu is sold exclusively to Circle K. Boo Koo's products are sold primarily to mainstream convenience and grocery store chains, drug stores, gas stations and other retail outlets.
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