SOURCE: True Drinks Holdings, Inc.
IRVINE, CA--(Marketwired - April 04, 2013) - True Drinks, Inc. (OTCQB: TRUU), a healthy beverage provider with major entertainment and media company licensing agreements for use of their characters on its proprietary, patented bottles, is pleased to announce Timothy Lane as the Chairman of its Board of Directors. Joining Mr. Lane on the Board of Directors as of October 15, 2012 are Carl Wistreich, Lou Imbrogno and True Drink's Chief Executive Officer Lance Leonard.
Mr. Lane is currently the CEO and Vice-Chairman of Food Automation -- Service Techniques, Inc. (dba Kitchen Brains), a technology company providing SaaS-based cloud solutions to the foodservice industry, and Chairman of the Board of True Drinks.
Mr. Lane is well known for his accomplishments during his nearly twenty-year career at PepsiCo. Chief amongst these, as CEO of PepsiCo Restaurants International for Asia and the Middle East (KFC, Pizza Hut and Taco Bell), he led the expansion PRI throughout the region including the introduction of KFC into China where it has held its leading market share position for more than 20 years. This success created the growth platform which enabled PepsiCo to spin off the restaurant group into what is presently known as YUM Brands. Earlier in his PepsiCo career he served as CFO, KFC Worldwide; CFO, Pepsi International; and CFO of Frito Lay International where he led its expansion to a position of dominance which it continues to enjoy today.
Subsequent to PepsiCo, Mr. Lane served as Chairman, President and CEO of Holiday Inn Worldwide, a hotel group and division of Bass PLC consisting of 2,300 hotels generating $8 billion in revenue. Following this tenure he retired from corporate America to Co-found the Afghanistan Reconstruction Company, ARC as it was known, built the Kabul-Kandahar highway, the USA embassy complex and numerous other public works. ARC also started Afghanistan International Bank, the first privately owned international bank for which Mr. Lane brought in ING from the Netherlands to run.
Mr. Lane began his career as a management consultant for Touche, Ross and Company before joining Masonite Corporation, where he served as general manager of its West Coast Fabricating Division. He also served as assistant to the chairman at the Consolidated Packaging Company. Mr. Lane received a Bachelor of Science in accounting from the University of Dayton and an MBA from the University of Chicago.
Mr. Lane commented, "My tenure at PepsiCo made me keenly aware of the importance of beverage differentiation and the ability to execute in trending areas of growth. True Drinks flagship product, AquaBall™ Naturally Flavored Water, is uniquely positioned in the marketplace as clearly a healthy alternative to the many high-calorie, sugar water, beverages marketed toward children. Furthermore, AquaBall's unique, patented spherical bottles adorned with instantly recognizable characters attract children's attention engendering tremendous brand loyalty. In a short period of time our management team has successfully sold product to leading regional and national outlets."
Additionally, Mr. Carl Wistreich has joined the True Drink's board. He has a broad professional background as a senior executive in business development, operations, mergers and acquisitions, legal affairs, and human resources for a $20 billion privately held company, as an entrepreneur and CEO of his own business, and as a corporate lawyer for a major international law firm. Mr. Wistreich was a member of the senior management team at C&S Wholesale Grocers, the largest distributor of food and related products to grocery stores in the U.S. with over $20 billion in sales. During his association with C&S, the company grew from approximately $3 billion to $20 billion in revenues. Following his time at C&S, Mr. Wistreich purchased, built up, and successfully sold L&B Truck Services, a truck dealership group providing truck sales, service and parts throughout New England. Prior to C&S, Mr. Wistreich was a corporate attorney with Skadden, Arps, Slate, Meagher & Flom, a major New York City based law firm. Mr. Wistreich presently also serves on the Board of Directors of BI-LO Holding, LLC (grocery retailer with approximately 700 stores and $10 billion in revenue). Mr. Wistreich holds a J.D. degree from New York Law School, graduating magna cum laude, and a B.A. from Colgate University.
Mr. Lou Imbrogno also is a new board member of true Drinks. He was the Senior Vice President of Worldwide Technical Operations for PepsiCo North America and PepsiCo Beverages International. He was responsible for Pepsi-Cola's worldwide beverage quality, concentrate operations, research & development and contract manufacturing. During Mr. Imbrogno's 40 years with PepsiCo, he served in a variety of field operating assignments, as well as various staff positions at headquarters. Mr. Imbrogno is a native of New York and successfully graduated from the Wharton Executive Program.
True Drinks' CEO, Lance Leonard added, "Our Board of Directors offers our management team a wealth of direct beverage company experience in such crucial areas as corporate leadership, new product development, legal affairs and beverage distribution. They have been critical to the development of our plans in these and other areas, and they possess the experience necessary to guide us during our growth phase and beyond."
About True Drinks, Inc.
True Drinks, Inc. is a beverage company with licensing agreements with major entertainment and media companies for use of their characters on its proprietary, patented bottles. AquaBall™ Naturally Flavored Water, the Company's vitamin-enhanced water that was created as a 0 calorie, sugar-free alternative to juice and soda for kids, is currently being sold into mass-market retailers throughout the United States. For more information, please visit www.theaquaball.com and www.truedrinks.com.
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "if," "should" and "will" and similar expressions as they relate to True Drinks, Inc. are intended to identify such forward-looking statements. True Drinks, Inc. may from time to time update these publicly announced projections, but it is not obligated to do so. Any projections of future results of operations or the anticipated benefits of the merger and other aspects of the proposed merger should not be construed in any manner as a guarantee that such results or other events will in fact occur. These projections are subject to change and could differ materially from final reported results. For a discussion of such risks and uncertainties, see "Risk Factors" in True Drink's report on Form 10-K filed with the Securities and Exchange Commission and its other filings under the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.