Reed’s Announces Leadership Updates
Reed's Inc. (OTCQX: REED) announced key leadership changes effective February 10, 2025. Douglas McCurdy has been appointed as Chief Financial Officer (CFO), replacing Joann Tinnelly, who will transition to Chief Accounting Officer (CAO). Additionally, Salvatore Vassallo joins as Vice President of Operations.
McCurdy brings decades of finance and operational experience, having served as CFO and COO for multiple early-stage growth companies including REZI, Torrential, and BBE. He previously held positions at Banc of America Securities and served as a Lieutenant in the US Navy. Vassallo, joining from Boylan Bottling Co., brings extensive experience in supply chain optimization and inventory management, with previous roles at Ferrero, Snapple Beverages, and Henkel.
CEO Norman E. Snyder expressed confidence that these leadership changes, combined with the company's strengthened balance sheet, will support Reed's growth and profitability objectives for 2025.
Reed's Inc. (OTCQX: REED) ha annunciato modifiche chiave nella leadership con effetto dal 10 febbraio 2025. Douglas McCurdy è stato nominato Chief Financial Officer (CFO), sostituendo Joann Tinnelly, che passerà a Chief Accounting Officer (CAO). Inoltre, Salvatore Vassallo entra come Vicepresidente delle Operazioni.
McCurdy porta decenni di esperienza nel settore finanziario e operativo, avendo ricoperto ruoli di CFO e COO in diverse aziende in fase di crescita, tra cui REZI, Torrential e BBE. Ha precedentemente ricoperto posizioni presso Banc of America Securities ed è stato tenente nella Marina degli Stati Uniti. Vassallo, proveniente da Boylan Bottling Co., porta un'ampia esperienza nell'ottimizzazione della catena di fornitura e nella gestione dell'inventario, avendo ricoperto ruoli precedenti presso Ferrero, Snapple Beverages e Henkel.
Il CEO Norman E. Snyder ha espresso fiducia nel fatto che questi cambiamenti nella leadership, insieme a un bilancio rafforzato dell'azienda, supporteranno gli obiettivi di crescita e redditività di Reed per il 2025.
Reed's Inc. (OTCQX: REED) anunció cambios clave en la dirección que entrarán en vigor el 10 de febrero de 2025. Douglas McCurdy ha sido nombrado Chief Financial Officer (CFO), reemplazando a Joann Tinnelly, quien trasladará su cargo a Chief Accounting Officer (CAO). Además, Salvatore Vassallo se une como Vicepresidente de Operaciones.
McCurdy aporta décadas de experiencia en finanzas y operaciones, habiendo sido CFO y COO de varias empresas de crecimiento en etapas tempranas, incluyendo REZI, Torrential y BBE. Anteriormente ocupó puestos en Banc of America Securities y fue teniente en la Marina de los EE. UU. Vassallo, que se une de Boylan Bottling Co., trae una amplia experiencia en optimización de la cadena de suministro y gestión de inventarios, con roles previos en Ferrero, Snapple Beverages y Henkel.
El CEO Norman E. Snyder expresó confianza en que estos cambios en la dirección, combinados con el balance general fortalecido de la empresa, apoyarán los objetivos de crecimiento y rentabilidad de Reed para 2025.
리드 인크.(OTCQX: REED)는 2025년 2월 10일부터 시행되는 주요 경영진 변경을 발표했습니다. 더글라스 맥커디가 최고 재무 책임자(CFO)로 임명되었으며, 조안 틴넬리는 최고 회계 책임자(CAO)로 이동합니다. 또한 살바토레 바살로가 운영 부사장으로 합류합니다.
맥커디는 REZI, Torrential 및 BBE를 포함한 여러 초기 단계 성장 기업에서 CFO 및 COO로 재직한 금융 및 운영 분야에서 수십 년의 경험을 제공합니다. 그는 이전에 뱅크 오브 아메리카 증권에서 근무했으며, 미국 해군에서도 중위를 역임했습니다. 바살로는 보이란 보틀링 컴퍼니에서 합류하며, 페레로, 스내플 음료 및 헨켈에서의 이전 경험으로 공급망 최적화 및 재고 관리에서 폭넓은 경험을 제공합니다.
CEO 노먼 E. 스나이더는 이러한 경영진 변경과 회사의 강화된 재무 상태가 2025년 리드의 성장 및 수익성 목표를 지원할 것이라고 확신한다고 밝혔습니다.
Reed's Inc. (OTCQX: REED) a annoncé des changements clés au sein de sa direction, qui prendront effet le 10 février 2025. Douglas McCurdy a été nommé Directeur Financier (CFO), remplaçant Joann Tinnelly, qui deviendra Directrice Comptable (CAO). De plus, Salvatore Vassallo rejoint l'entreprise en tant que Vice-président des Opérations.
McCurdy apporte des décennies d'expérience dans les domaines de la finance et des opérations, ayant été CFO et COO de plusieurs entreprises en phase de croissance, notamment REZI, Torrential et BBE. Il a précédemment occupé des postes chez Banc of America Securities et a servi en tant que lieutenant dans la Marine américaine. Vassallo, qui rejoint l'entreprise après avoir travaillé chez Boylan Bottling Co., apporte une vaste expérience en optimisation de la chaîne d'approvisionnement et en gestion des stocks, ayant occupé des postes précédents chez Ferrero, Snapple Beverages et Henkel.
Le PDG Norman E. Snyder a exprimé sa confiance que ces changements de direction, associés à un bilan renforcé de l'entreprise, soutiendront les objectifs de croissance et de rentabilité de Reed pour 2025.
Reed's Inc. (OTCQX: REED) gab wesentliche Führungsänderungen bekannt, die am 10. Februar 2025 wirksam werden. Douglas McCurdy wurde zum Chief Financial Officer (CFO) ernannt und ersetzt Joann Tinnelly, die zur Chief Accounting Officer (CAO) wechselt. Außerdem tritt Salvatore Vassallo als Vizepräsident der Operationen bei.
McCurdy bringt jahrzehntelange Erfahrung im Finanz- und Betriebsbereich mit und war CFO und COO mehrerer wachstumsstarker Unternehmen wie REZI, Torrential und BBE. Zuvor hatte er Positionen bei Banc of America Securities inne und diente als Leutnant in der US Navy. Vassallo, der von Boylan Bottling Co. kommt, bringt umfassende Erfahrung in der Optimierung von Lieferketten und im Bestandsmanagement mit, nachdem er zuvor bei Ferrero, Snapple Beverages und Henkel tätig war.
CEO Norman E. Snyder äußerte sein Vertrauen, dass diese Führungsänderungen in Kombination mit der gestärkten Bilanz des Unternehmens Reed bei seinen Wachstums- und Rentabilitätszielen für 2025 unterstützen werden.
- Strengthened balance sheet reported by the company
- Addition of experienced executives with relevant industry background
- None.
NORWALK, Conn., Feb. 06, 2025 (GLOBE NEWSWIRE) -- Reed’s, Inc. (OTCQX: REED) (“Reed’s” or the “Company”), owner of the nation’s leading portfolio of handcrafted, natural ginger beverages, today announced key leadership changes, effective February 10, 2025, to bolster its executive team and reinforce its operational foundation. Douglas McCurdy has been appointed to Chief Financial Officer (“CFO”), succeeding Joann Tinnelly, who will transition to Chief Accounting Officer (“CAO”). Additionally, Reed’s has appointed Salvatore Vassallo as Vice President of Operations.
Mr. McCurdy has decades of finance, operational, and leadership experience across several industries, including investment banking, technology, and the US Navy. He brings extensive operating experience having served as Chief Financial Officer and Chief Operating Officer for multiple early-stage growth companies, including REZI, Torrential, and BBE. Mr. McCurdy also held corporate finance and strategic advisory positions at Banc of America Securities. He started his career as a Lieutenant in the US Navy. Mr. McCurdy holds a Master of Business Administration in Accounting and Finance from the University of Chicago Booth School of Business and a Bachelor of Science in Mechanical Engineering from Worcester Polytechnic Institute.
Mr. Vassallo, a seasoned consumer packaged goods and supply chain executive, joins Reed’s with extensive experience in inventory management, strategic sourcing and supply chain optimization. Most recently, he served as Vice President of Supply Chain at Boylan Bottling Co., where he streamlined distribution networks, drove cost-reduction and process improvement initiatives, and led innovation projects. Mr. Vassallo’s experience in supply chain management for CPG companies includes roles at Ferrero, Snapple Beverages and Henkel. He holds an MBA from the University of Connecticut, a Bachelor of Science in Economics from Universita’ Bocconi and a MicroMasters Certificate in Supply Chain Management from MIT.
“We are pleased to welcome Doug and Sal to the Reed’s executive team,” said Norman E. Snyder, CEO of Reed’s. “Their combined expertise in finance, supply chain and operations will contribute to our strategic initiatives and further position Reed’s for long-term success. Joann’s transition to CAO provides great continuity for our finance team and I want to thank her for serving as CFO over the past 16 months. These leadership changes, together with our strengthened balance sheet, put us in a strong position to execute our growth and profitability objectives in 2025.”
About Reed's, Inc.
Reed’s is an innovative company and category leader that provides the world with high quality, premium and naturally bold™ better-for-you beverages. Established in 1989, Reed's is a leader in craft beverages under the Reed’s®, Virgil’s® and Flying Cauldron® brand names. The Company’s beverages are now sold in over 45,000 stores nationwide.
Reed’s is known as America's #1 name in natural, ginger-based beverages. Crafted using real ginger and premium ingredients, Reed’s portfolio includes ginger beers, ginger ales, ready-to- drink ginger mules and hard ginger ales. The brand has recently successfully expanded into the zero-sugar segment with its proprietary, natural sweetener system.
Virgil's® is an award-winning line of craft sodas, made with the finest natural ingredients and without GMOs or artificial preservatives. The brand offers an array of great tasting, bold flavored sodas including Root Beer, Vanilla Cream, Black Cherry, Orange Cream, and Cola. These flavors are also available in five zero sugar varieties which are naturally sweetened and certified ketogenic.
Flying Cauldron® is a non-alcoholic butterscotch beer prized for its creamy vanilla and butterscotch flavors. Sought after by beverage aficionados, Flying Cauldron is made with natural ingredients and no artificial flavors, sweeteners, preservatives, gluten, caffeine, or GMOs.
For more information, visit drinkreeds.com, virgils.com and flyingcauldron.com. To receive exclusive perks for Reed’s investors, please visit the Company’s page on the Stockperks app here.
Forward-Looking Statements
Statements in this release that are not historical are forward-looking statements made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are typically identified by terms such as "will contribute," “position,” and similar expressions. These forward-looking statements are based on current expectations. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties, and assumptions, many of which involve factors or circumstances that are beyond our control.
The risks and uncertainties include, but are not limited to: inventory shortages; risks associated with new product releases; the impacts of further inflation; risks that customer demand may fluctuate or decrease; risks that we are unable to collect unbilled contractual commitments, particularly in the current economic environment; our ability to compete successfully and manage growth; our significant debt obligations; our ability to develop and expand strategic and third party distribution channels; our dependence on third party suppliers, brewers and distributors; third party co-packers meeting contractual commitments; risks related to our international operations; our ability to continue to innovate; our strategy of making investments in sales to drive growth; increasing costs of fuel and freight, protection of intellectual property; competition; general political or destabilizing events, including the wars in Ukraine and Israel, conflict or acts of terrorism; financial markets, commodity and currency impacts of the wars; the effect of evolving domestic and foreign government regulations, including those addressing data privacy and cross-border data transfers; and other risks detailed from time to time in Reed’s public filings, including Reed’s annual report on Form 10-K filed on April 1, 2024, which is available on the Securities and Exchange Commission’s web site at www.sec.gov. These forward-looking statements are based on current expectations and speak only as of the date hereof. Reed’s assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
ir@reedsinc.com
(720) 330-2829
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