Dr. Fred W. Cooper Joins Board of Directors of NewAge, Inc.
NewAge (NASDAQ: NBEV) announced the appointment of Dr. Fred W. Cooper to its board of directors, effective November 16, 2020. With over 25 years in e-commerce and direct selling, Dr. Cooper is a seasoned leader, previously serving as CEO of ARIIX, recognized as one of the fastest-growing direct selling companies. His expertise is expected to strengthen NewAge's direct-to-consumer strategy. Dr. Cooper expressed enthusiasm about guiding NewAge's strategic direction to enhance growth and profitability in the global market.
- Appointment of Dr. Fred W. Cooper strengthens board expertise in direct selling.
- Dr. Cooper's leadership at ARIIX contributed to its rapid growth, providing valuable insights.
- Concerns about continuity and experience gaps following leadership changes.
DENVER, Nov. 19, 2020 (GLOBE NEWSWIRE) -- NewAge, Inc. (Nasdaq: NBEV), the Colorado-based social selling and distribution company with a network of independent business owners across 75 countries worldwide, today announced that it has appointed Dr. Fred W. Cooper, Ph.D., as a member of its board of directors, effective November 16, 2020.
Dr. Cooper brings more than 25 years of e-commerce and direct selling experience and was a Founder and the Chief Executive Officer of ARIIX prior to completing the merger. Under Dr. Cooper’s leadership, ARIIX was one of the fastest-growing direct selling companies over its nine years of business, and in 2020, was recognized as number 35 on the DSN’s list of Top 100 global companies. Prior to founding ARIIX in July 2011, he was the President and Chief Operating Officer of NYSE listed USANA Health Sciences. He started his career in direct sales at USANA in 1998 where he played many critical roles, serving in different executive capacities in Special Projects, Information Technology, and Global Operations. Dr. Cooper also spent over ten years teaching entrepreneurship and statistics courses as a part-time professor at the University of Utah.
Dr. Cooper earned a B.S. in Finance and a B.S. in Psychology from the University of Utah. He also earned a Ph.D. in Business Administration, with an emphasis on statistics and operations processes and management, from the University of Utah
Greg Fea, Chairman of the Board of NewAge, commented, “We are pleased to welcome Dr. Cooper to the Board and look forward to working closely with him to further the success of NewAge. His expertise in Direct Sales at the highest levels makes for a natural addition as we continue to execute our direct-to-consumer strategy. His track record in the industry is unmatched, which along with his diverse experience as a successful business owner, entrepreneur, and a former top executive of a publicly-traded company, significantly strengthens the NewAge Board.”
In response to his appointment to the Board of Directors of NewAge, Dr. Cooper commented, “I’m excited to take on a new responsibility to help guide the strategic direction of NewAge, combining our global leading companies. I know and have worked personally with many of the new executives of NewAge and have a high level of confidence in their leadership and abilities. NewAge is well-positioned globally to drive growth, improve profitability, and reach more consumers than ever before. I look forward to playing a significant role to help further the company’s position in the global consumer market to create additional value for all of our representatives, consumers and shareholders.”
About NewAge, Inc. (NASDAQ: NBEV)
NewAge is a Colorado-based organic and healthy products company dedicated to inspiring and educating consumers to “Live Healthy.” The Company is a social selling and distribution company with access to e-commerce, direct-to-consumer, and medical channels across more than 75 countries worldwide when combined with ARIIX. NewAge markets a portfolio of better-for-you products including the brands Tahitian Noni, TeMana, ‘Nhanced and others. The Company operates the websites www.newage.com, www.noninewage.com, and a number of other individual brand websites.
Safe Harbor Disclosure
This press release contains forward-looking statements that are made under the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management's expectations regarding future results of operations, economic performance, financial condition, the acquisition of ARIIX, statements about the benefit of the ARIIX transaction, and the extent and duration of COVID-19 on its business. The forward-looking statements are based on the assumption that operating performance and results will continue in line with historical results. Management believes these assumptions to be reasonable, but there is no assurance they will prove to be accurate. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. NewAge competes in a rapidly growing and transforming industry, and risk factors, including those disclosed in the Company's filings with the Securities and Exchange Commission, might affect the Company's operations. Unless required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements.
For investor inquiries about NewAge please contact:
NewAge Investor Relations:
Riley Timmer
Vice President, Investor Relations
Tel: 1-801-870-8685
Riley_Timmer@NewAge.com
Investor Relations Counsel:
John Mills/Scott Van Winkle
ICR – Strategic Communications and Advisory
Tel: 1-646-277-1254/1-617-956-6736
newage@icrinc.com
NewAge, Inc.:
Gregory A. Gould
Chief Financial Officer
Tel: 1-303-566-3030
Greg_Gould@NewAge.com
FAQ
Who is Dr. Fred W. Cooper and what is his background?
What impact does Dr. Cooper's appointment have on NewAge?
When was Dr. Cooper appointed to the NewAge board?
What is NewAge known for?
