5 Beverage Companies Get New Top Execs
By Steve Holtz on Apr. 25, 2017CHICAGO -- The beverage manufacturing world has been a volatile space to be a company leader recently. On the national end, Nestle Waters North America and Talking Rain, makers of Sparkling Ice, each saw unexpected changes to their top leadership in March, while smaller beverage companies, such as Reed’s, True Drinks and Just Goods, all saw turnover of their chief executives.
Here’s a look at what’s happening at each company …
True Drinks
True Drinks Holdings Inc. appointed food- and beverage-industry veteran James J. Greco as CEO on April 18.
Greco had previously been recruited directly by former CEO Kevin Sherman and appointed as a director of True Drinks on Feb. 6, 2017. He will now take over day-to-day operations as the company’s CEO. Sherman will retain the role of president.
“The biggest challenge facing us was the ability to engage the countless opportunities before us. Having an accomplished and seasoned CEO with a significant track record of adding shareholder value on our team will provide me with the time to pursue these opportunities fully,” Sherman said. “My singular focus has always been attracting top talent in reaching our destination. Jim’s appointment as CEO will greatly help our efforts in expediting strategic partnerships that will enhance shareholder confidence and value.”
Irvine, Calif.-based True Drinks is the maker of AquaBall Naturally Flavored Water, a children's beverage with no sugar, preservatives, calories or artificial flavors.
As CEO, Greco is not taking a salary for the first six months, only stock, given his confidence in the continued, rapid growth of True Drinks, the company said.
Just Goods
Just Goods Inc., maker of Just Water, appointed Ira Laufer to be the company’s CEO effective May 1, 2017.
Laufer joins the company with 17 years of experience leading better-for-you and specialty CPG (consumer packaged goods) brands including Red’s Natural Foods and Vitalicious. He will lead the next phase of growth and expansion for Just Water, Just Goods’ sustainable line of 100% spring water in a grab-and-go bottle made from plant-based, renewable resources. His main focus will be to further leverage the Just brand, execute entry into additional categories and create line extensions in the beverage category.
Just Goods in based in Glens Falls, N.Y.
Reed’s
Chris Reed resigned April 24 as the CEO of Reed's Inc., maker of Reed’s Ginger Beer and other natural sodas. Reed will remain on the board of directors and will serve in the newly created position of chief innovation officer, focusing on developing and launching new products and flavor profiles. The company's board of directors named Stefan Freeman, director and chairman of the compensation committee, as interim CEO, effective immediately.
"Reed's has never had a more impressive portfolio of new products waiting to launch in the history of the company," said Reed, who is also the company’s founder. “My transition from CEO to chief innovation officer allows me to focus my full energies to bringing these exciting new products to fruition.”
The innovation includes the development of what Reed said is the first natural-soda-fountain products, which the company has put in trial at a large, national fast-casual restaurant chain.
Freeman is a strategic- and performance-focused executive with more than 25 years in sales operations, manufacturing and supply chain operations in beverages and consumer products. He has worked for the three largest soda companies in the world.
Los Angeles-based Reed's Inc. makes sodas in the natural and specialty foods industry.
Talking Rain/Sparkling Ice
Talking Rain Beverage co., the maker of Sparkling Ice, announced the unexpected and abrupt departure of its president and CEO, Kevin Klock, on March 10.
The Preston, Wash.-based company gave no explanation.
Chief Financial Officer Marcus Smith assumed the responsibilities of the chief executive “with full shareholder support,” the company said.
“Current plans, partners and forward momentum will remain as Talking Rain continues to position the company for a successful future as part of the ever-changing beverage landscape,” the company said.
Smith joined Talking Rain as CFO in early 2014 and has been responsible for finance, accounting, information technology, supply chain and strategic planning.
Nestle Waters North America
Nestle Waters North America named a new chief executive officer in early April following the abrupt departure of Tim Brown, who left the lead-executive role to become chief operating officer of Greek yogurt company Chobani.
Fernando Merce, former CEO of Nestle Purina Latin America & Caribbean, will take over as president and CEO of the bottled-water and iced-tea company effective May 1.
Merce will oversee all Nestle Waters North America’s operations in both the United States and Canada. He will also serve as a member of the global Nestle Waters board of directors.