Reed's, Inc. Welcomes New Leadership for Growth Direction
Exciting Leadership Transitions at Reed’s, Inc.
Reed’s, Inc. (OTCQX: REED), recognized for leading the handcrafted, natural ginger beverage market, recently declared significant updates in its executive leadership and Board of Directors. The company has appointed Cyril Wallace as the new Chief Executive Officer and Director, taking over from Norman E. Snyder, Jr., who is retiring after a remarkable tenure.
Cyril Wallace: A Visionary Leader
Cyril Wallace, with over two decades of experience at PepsiCo, where he oversaw a substantial $3.2 billion territory as Vice President and General Manager, brings a wealth of expertise to Reed's. His track record speaks volumes; Wallace has demonstrated a consistent ability to drive revenue growth while enhancing margins, showcasing strategic foresight and effective team leadership. His academic credentials include an MBA in Project Management from Keller Graduate School of Management and a BA in Marketing from Georgia State University.
Welcoming Ruud Bakker to the Board
Joining Wallace in leadership is Ruud Bakker, who boasts more than 25 years of beverage industry experience, having held prominent positions at giants like Red Bull, Diageo, and Heineken. Bakker excels in brand revitalization and market expansion, making him a valuable asset for Reed's Board. Additionally, he is the founder of Purple Fox Studios, where he collaborates with entrepreneurs to foster innovative beverage brands. Bakker holds an MBA from Erasmus University and has furthered his education through executive programs at prestigious institutions such as Harvard and Kellogg.
A Grateful Farewell to Norm Snyder
Norman E. Snyder, Jr., in his farewell address, expressed pride in the accomplishments achieved during his tenure. Under his leadership for the past five years, Reed’s navigated complex challenges posed by the industry and macroeconomic conditions. Snyder highlighted the company’s remarkable journey of resilience and innovation, ensuring that Reed’s is well-positioned for future successes.
A Bright New Chapter for Reed's
Shufen Deng, the Chairperson of the Board, expressed her appreciation for Snyder's contributions, emphasizing how his leadership helped stabilize and revitalize the company during turbulent times. She is optimistic about the potential of Wallace and Bakker, combining their formidable skills to propel Reed’s into a new era marked by ambitious growth, new product launches, and increased market penetration.
About Reed's, Inc.
Founded in 1989, Reed's, Inc. remains at the forefront of the beverage industry, renowned for its premium, naturally bold™ beverages. The company is a dominant force in craft beverages, with its offerings available in over 32,000 stores across the nation. Its signature portfolio includes highly regarded brands such as Reed’s, Virgil’s, and Flying Cauldron.
Focusing on high-quality, natural ingredients, Reed’s specializes in ginger-based beverages, including ginger ales, ginger beers, and a recent zero-sugar range that uses a proprietary, natural sweetener system. This innovative approach ensures a delightful drinking experience with health-conscious options.
The Excellence of Virgil's and Flying Cauldron
Virgil's offers a prize-winning selection of craft sodas, made without GMOs or artificial preservatives. The collection features flavors like Root Beer, Vanilla Cream, and Black Cherry and includes zero-sugar variants that appeal to health-conscious consumers. On the other hand, Flying Cauldron delivers a unique butterscotch beer experience, crafted with natural ingredients and free from artificial additives, catering to those who enjoy distinctive flavors in their beverages.
In pursuit of even more engaged investor relations, Reed’s encourages stakeholders to connect through their dedicated platform on Stockperks.
Frequently Asked Questions
What leadership changes are happening at Reed’s, Inc.?
Reed’s has appointed Cyril Wallace as the new CEO and Ruud Bakker to its Board of Directors, marking a significant transition in leadership.
What experience does Cyril Wallace bring to Reed's?
Cyril Wallace has over 20 years at PepsiCo, where he successfully managed a $3.2 billion territory, showcasing his expertise in driving growth and team development.
Who is Ruud Bakker, and what is his role?
Ruud Bakker joins the Board with extensive experience in the beverage industry, having held senior roles at notable companies like Red Bull and Diageo, helping to guide Reed's growth strategy.
What impact did Norman Snyder have on Reed's?
Norman E. Snyder, Jr. played a crucial role in stabilizing and revitalizing Reed’s amid industry challenges over the past five years, leaving a strong legacy for future leadership.
What products does Reed’s, Inc. offer?
Reed’s offers a diverse range of handcrafted, naturally bold beverages, including ginger ales, ginger beers, and craft sodas, available in numerous flavors and formulations.
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