Flow Beverage Corp. Realigns Board of Directors

Rhea-AI Summary

Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has announced the appointment of Patrick Bousquet-Chavanne as the Lead Independent Director and Michael Samoszewski as a director responsible for the Governance, Human Resources and Compensation Committee. Marc Caira has resigned from the Board. Bousquet-Chavanne is the CEO of ESW Americas, while Samoszewski previously served as Chief Marketing Officer at Coca-Cola Canada. These appointments reflect Flow's strategy to enhance governance and leverage expert growth experience in the beverage sector.

Positive

• Appointment of Patrick Bousquet-Chavanne as Lead Independent Director may strengthen governance.
• Michael Samoszewski brings significant experience in beverage marketing and growth strategies.

Negative

• Resignation of Marc Caira may raise concerns about continuity on the Board.

Patrick Bousquet-Chavanne becomes Lead Independent director

Michael Samoszewski appointed director and will lead GHRC Committee

TORONTO--(BUSINESS WIRE)-- Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) (“Flow” or the “Company”) announced today that it has appointed Patrick Bousquet-Chavanne as Lead Independent director and it has appointed Michael Samoszewski as a director of the Company to lead the Board’s Governance, Human Resources and Compensation Committee. Concurrent with these appointments, Marc Caira has resigned from Flow’s Board of Directors.

Mr. Bousquet-Chavanne presently serves as President & CEO of ESW Americas, the world’s leading direct-to-consumer e-commerce company providing global e-commerce services for some of the world’s most iconic brands. He also recently served on the Board of Directors and is a member of the Audit and Corporate Governance & Nominating Committees of Brown-Forman Corporation, one of the largest American-owned companies in the spirits and wine business.

Mr. Samoszewski was most recently Vice President of Marketing & Commercial and Chief Marketing Officer for The Coca-Cola Company in Canada. During his 19 years with The Coca-Cola Company, Mr. Samoszewski was responsible for the commercial growth strategy for the full beverage portfolio consisting of over 30 brands across all channels representing nearly two billion in system revenues.

“We are very pleased to add Michael to our board and look forward to leveraging his experience in driving growth in world class beverage brands. We would like to thank Marc for his contributions during a critical period of growth for the Flow brand and Patrick for taking a leadership role in Flow’s governance,” said Nicholas Reichenbach, founder and Chief Executive Officer of Flow.

About Flow
Flow is one of the fastest-growing premium water companies in North America. Founded in 2014, Flow’s mission since day one has been to reduce environmental impacts by providing sustainably sourced naturally alkaline spring water in a sustainable, 100% recyclable and up to 75% renewable, plant-based pack. Today, the brand is B-Corp Certified with a best-in-class score of 126.5, offering a diversified line of health and wellness-oriented beverage products: original naturally alkaline spring water, award-winning organic flavours, and collagen-infused flavours in sizes ranging from 330-ml to 1-litre. All products contain naturally occurring electrolytes and essential minerals and support Flow’s overarching purpose to “bring wellness to the world through the positive power of water.” Flow beverage products are available online at flowhydration.com and are sold at over 35,600 stores across North America.

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/20220715005079/en/

Devan Pennell, Chief Financial Officer

1-844-356-9426

investors@flowhydration.com

US Investors:

Jon DeDomenico

jon.dedomenico@icrinc.com

Canadian investors:

Marc Charbin

investors@flowhydration.com

Media:

Natasha Koifman

nk@nkpr.net

Source: Flow Beverage Corp.

FAQ

What recent leadership changes occurred at Flow Beverage Corp. (FLWBF)?

Flow Beverage Corp. appointed Patrick Bousquet-Chavanne as Lead Independent Director and Michael Samoszewski as a director leading the Governance, Human Resources and Compensation Committee, while Marc Caira resigned.

Who is Patrick Bousquet-Chavanne in relation to Flow Beverage Corp. (FLWBF)?

Patrick Bousquet-Chavanne is the newly appointed Lead Independent Director of Flow Beverage Corp. and is also the CEO of ESW Americas.

What role will Michael Samoszewski play at Flow Beverage Corp. (FLWBF)?

Michael Samoszewski will serve as a director and lead the Governance, Human Resources and Compensation Committee at Flow Beverage Corp.

What impact might these leadership changes have on Flow Beverage Corp. (FLWBF)?

The leadership changes may enhance governance and strategic growth direction, although the resignation of Marc Caira raises continuity concerns.