LOS ANGELES, CA--(Marketwired - Feb 11, 2014) - Reed's, Inc. (NYSE MKT: REED), maker of the top-selling sodas in natural food stores nationwide, announced today that effective immediately David Williams has been engaged to assume the role of interim CFO for Reed's, Inc. Mr. Williams is a Certified Public Accountant with nearly twenty years' experience as CFO, Controller, and Auditor providing expertise to public, private and non-profit companies. Mr. Williams has extensive public accounting experience including acquisitions and SEC reporting. His prior work included being CFO and In-House Counsel for Fluid Media/Mood Media (TSX: MM) (LSE AIM: MM), a $500 million dollar public company.
Chris Reed, Founder and Chief Executive Officer of Reed's, Inc., commented, "We are excited that David has joined Reed's in the capacity of interim Chief Financial Officer. In addition to his financial and analytical acumen, we are impressed with David's operational experience and background in law and negotiations."
Additionally, the Company today also announced that Thierry Foucaut has resigned as the Company's Chief Operating Officer to pursue other interests.
Chris Reed further commented, "We thank Thierry for his contributions to Reed's over the past seven years and wish him well in his future endeavors. As our business continues to expand, we are strategically evaluating and reformulating the roles and responsibilities of our senior management team. I'm using this time of transition to refine the way we manage the company. We have a great team here at Reed's that have been on board for many years and are making this transition very smooth."
About Reed's, Inc.
Reed's, Inc. makes the top-selling natural sodas in the natural foods industry sold in over 13,000 natural food markets and supermarkets nationwide. Its six award-winning non-alcoholic Ginger Brews are unique in the beverage industry, being brewed, not manufactured and using fresh ginger, spices and fruits in a brewing process that predates commercial soft drinks. The Company owns the top-selling root beer line in natural foods, the Virgil's Root Beer product line, and the top-selling cola line in natural foods, the China Cola product line. In 2012, the Company launched Reed's Culture Club Kombucha line of organic live beverages. Other product lines include: Reed's Ginger Candies and Reed's Ginger Ice Creams. In 2009, Reed's started producing private label natural beverages for select national chains. Reed's products are sold through specialty gourmet and natural food stores, mainstream supermarket chains, retail stores and restaurants nationwide, and in Canada, as well as through private label relationships with major supermarket chains.
For more information about Reed's, please visit the Company's website at: http://www.reedsinc.com or call 800-99-REEDS.
Follow Reed's on Twitter at http://twitter.com/reedsgingerbrew
Reed's Facebook Fan Page at https://www.facebook.com/ReedsGingerBrew
SAFE HARBOR STATEMENT
Some portions of this press release, particularly those describing Reed's goals and strategies, contain "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. While Reed's is working to achieve those goals and strategies, actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These risks and uncertainties include difficulty in marketing its products and services, maintaining and protecting brand recognition, the need for significant capital, dependence on third party distributors, dependence on third party brewers, increasing costs of fuel and freight, protection of intellectual property, competition and other factors, any of which could have an adverse effect on the business plans of Reed's, its reputation in the industry or its expected financial return from operations and results of operations. In light of significant risks and uncertainties inherent in forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by Reed's that they will achieve such forward-looking statements. For further details and a discussion of these and other risks and uncertainties, please see our most recent reports on Form 10-K and Form 10-Q, as filed with the Securities and Exchange Commission, as they may be amended from time to time. Reed's undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.