NewAge, Inc. Files 8-K Regarding Agreed Resignation of CEO

Rhea-AI Summary

On January 10, 2022, NewAge, Inc. (NBEV) announced the immediate resignation of its CEO, Brent Willis, as reflected in a Form 8-K filed with the SEC. This decision was made by the Board of Directors and signifies a significant leadership change for the company, which specializes in D2C organic and healthy products. NewAge operates in over 50 countries, focusing on health and wellness, beauty, and nutritional performance.

Positive

• Leadership change may bring new perspectives and strategies.
• Potential for improved management direction in the future.

Negative

• Immediate resignation raises concerns about continuity and leadership stability.
• Loss of experience and vision with Brent Willis's departure.

DENVER, Jan. 10, 2022 (GLOBE NEWSWIRE) -- On January 10, 2022, NewAge, Inc. (Nasdaq: NBEV), the Colorado-based direct-to-consumer (D2C) organic and healthy products company, filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) announcing that the NewAge, Inc. Board of Directors and the Chief Executive Officer, Brent Willis, have agreed that Mr. Willis will resign as Chief Executive Officer, Director, and employee, effective immediately.

The Form 8-K can be accessed on the investor section of NewAge’s website at https://newagegroup.com/investors/tab/sec-filings and on the SEC’s website at www.sec.gov.

About NewAge, Inc.

NewAge is a purpose-driven firm dedicated to inspiring the planet to Live Healthy™. Colorado-based NewAge commercializes a portfolio of organic and healthy products worldwide primarily through a direct-to-consumer (D2C) route to market distribution system across more than 50 countries. The Company competes in three major category platforms including health and wellness, inner and outer beauty, and nutritional performance and weight management — through a network of exclusive independent Brand Partners, empowered with the leading social selling tools and technology available worldwide. More information on the Company can be found at NewAgeGroup.com.

Contact:

MEDIA
August
Ellen Davis / Steven Goldberg
NewAge@AugustCo.com

INVESTORS
NewAge, Inc.
Lisa Mueller
VP, Investor Relations
ir@newage.com

FAQ

Why did Brent Willis resign as CEO of NewAge, Inc.?

Brent Willis resigned effective immediately as agreed upon by the Board of Directors.

What impact does the CEO resignation have on NewAge, Inc.?

The resignation could lead to a shift in company strategy and management direction, impacting investor confidence.

When did NewAge, Inc. announce the CEO change?

The announcement was made on January 10, 2022.

What is the stock symbol for NewAge, Inc.?

The stock symbol for NewAge, Inc. is NBEV.