Flow Beverage Corp. Announces Executive Leadership Changes and Ongoing Organizational Streamlining

Rhea-AI Summary

Flow Beverage Corp. (TSX: FLOW; OTCQX: FLWBF) has announced changes to its executive team, with President David Mock departing and Kevin Helfand promoted to Chief Legal and Human Resources Officer. CEO Maurizio Patarnello emphasized that the reorganization aims to streamline operations and enhance decision-making, aligning with their growth strategy for 2022. Additionally, Adrian Ross has been appointed Senior Vice President of Operations, bringing extensive experience from Tetra Pak and Campbell Soup. Flow is committed to sustainability and wellness through its premium alkaline spring water products.

Positive

• Promoted Kevin Helfand to Chief Legal and Human Resources Officer, indicating organizational growth.
• Appointment of Adrian Ross as Senior Vice President of Operations, enhancing operational capabilities.

Negative

• Departure of President David Mock may raise concerns about continuity in leadership.

TORONTO--(BUSINESS WIRE)-- Flow Beverage Corp. (TSX:FLOW)(OTCQX:FLWBF) (“Flow” or the “Company”), today announced changes to its executive leadership team. President and Chief Operating Officer, David Mock, will be departing the Company, and Kevin Helfand will be promoted to Chief Legal and Human Resources Officer.

“Flow continues to implement a more streamlined and simplified structure to execute on its profitable growth plans. This reorganization will empower decision making, reduce management layers, streamline communication and allow Flow to better execute its 2022 strategic framework. We would like to thank David Mock for his leadership and strong commitment to Flow. He has significantly contributed to establishing Flow as an admired brand across Canada and the United States. We wish him all success in the continuation of his distinguished career,” said Maurizio Patarnello, Chief Executive Officer of Flow.

Flow’s executive leadership team will consist of Chief Executive Officer, Maurizio Patarnello; Chief Financial Officer, Devan Pennell; Chief Marketing Officer, Krissie Millan; Chief Revenue Officer, Tim Dwyer; and Chief Legal and Human Resources Officer, Kevin Helfand.

Adrian Ross has also been newly appointed to the role of Senior Vice President of Operations. Mr. Ross has extensive international experience in both plant operations and the delivery of technical service solutions with companies including Tetra Pak Group and Campbell Soup Company. Mr. Ross will be reporting to Flow’s Chief Executive Officer.

ABOUT FLOW

Flow is a premium alkaline spring water company with a diversified line of health and wellness-oriented beverage products sold online and at retailers throughout North America. Flow's premium alkaline spring water is offered in original unflavored and a range of award-winning organic flavors, in sizes ranging from 330-ml to 1-liter.

Due to its unique artesian spring sources, Flow products contain naturally occurring electrolytes and essential minerals, and its original and flavored water products have an alkaline pH. As part of its ongoing innovation into functional "better-for-you" beverages, Flow recently introduced a new line of collagen-infused waters with natural flavors.

Founded in 2014 by serial, mission-driven entrepreneur Nicholas Reichenbach, Flow is highly dedicated to sustainability and is a B-Corp Certified company with a purpose to "bring wellness to the world through the positive power of water." Flow set out to be a sustainable brand, packaging its products in up to 75% renewable-resource-based Tetra Pak™ cartons utilizing sustainable operations.

Flow beverage products are available online at flowhydration.com, and are sold at over 20,000 stores across the United States and Canada, including Target, Publix, Walmart, Costco, Whole Foods Market, Loblaws, Sobeys, Metro, Shoppers Drug Mart, Farm Boy, Sprouts Farmers Market, Safeway, Wegmans, Harris Teeter, Giant Eagle, Bristol Farms, Raley’s, and Duane Reade, among others.

Follow Flow on social media: Instagram (https://www.instagram.com/flow/); Twitter (https://twitter.com/FlowHydration); and Facebook (facebook.com/FlowHydration).

For more information on Flow, please visit Flow’s investor relations site at: investors.flowhydration.com

Cautionary Statement

This press release may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Such forward-looking statements include, but are not limited to, information with respect to our objectives and the strategies for achieving those objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking statements are typically identified by the use of words such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, although not all forward-looking statements contain these words. Forward-looking statements are provided for the purposes of assisting the reader in understanding Flow and its business, operations, prospects, and risks at a point in time in the context of historical and possible future developments, and the reader is therefore cautioned that such information may not be appropriate for other purposes. Forward-looking statements are based on assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. Those risks and uncertainties include the following: impact and spread of COVID-19; ability to achieve and manage growth; failure to expand sales capabilities; changes in consumer preferences; criticism of packaged water; maintain brand image and product quality; constrained or unavailable spring water sources; inability to package products; increased competition; accurately estimating demand; maintaining relationships with distributors and vendors; changing retail landscape; incorrect product design or development; product information misrepresentation; revenues derived entirely from packaged beverages; increases in costs or shortages of materials; fluctuation of quarterly operating results; no assurance of profitability; fluctuations in foreign currency; changes in government regulation; contamination or recalls of ingredients or end products; loss of intellectual property rights; litigation; future tax rates; catastrophic events; climate change; seasonal business; dependence on key information systems and third-party service providers; ability to securely maintain confidential information; maintaining and upgrading information technology systems; conflict of interest; dual class share structure; potential volatility of share price; no assurance of active market for shares; lack of dividends; global financial condition; publication of inaccurate or unfavourable research and reports; operating history; and management and conflict of interests. Consequently, all of the forward-looking statements contained herein are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking statements contained herein are provided as of the date hereof, and we do not undertake to update or amend such forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211124006036/en/

Devan Pennell, Chief Financial Officer

1-844-356-9426

investors@flowhydration.com

US Investors:

Ashley DeSimone

Ashley.DeSimone@icrinc.com

Canadian investors:

Marc Charbin

investors@flowhydration.com

Media:

Natasha Koifman

nk@nkpr.net

Source: Flow Beverage Corp.

FAQ

What changes were announced in Flow Beverage Corp.'s executive team?

Flow Beverage Corp. announced that President David Mock will depart, and Kevin Helfand has been promoted to Chief Legal and Human Resources Officer. Adrian Ross has also been appointed Senior Vice President of Operations.

Who is the new Chief Legal and Human Resources Officer at Flow Beverage Corp.?

Kevin Helfand has been promoted to Chief Legal and Human Resources Officer at Flow Beverage Corp.

What is the reason for David Mock's departure from Flow Beverage Corp.?

The press release does not specify the reason for David Mock's departure, but the company is focusing on streamlining its leadership structure.

How will the leadership changes impact Flow Beverage Corp.'s strategy?

The reorganization aims to streamline decision-making and enhance communication, aligning with Flow's profitable growth strategy for 2022.