Reeds Inc. (OTCBB: REED) has found what it was looking for to make the changes needed to carry the company into a leading role in the “new age” beverage category. Bringing in a new Chief Operating Officer (COO), the company will be able to strengthen its image and take a new corporate strategy to carry them forward.
The company stock price rose sharply today to $9.92 from $9.55, which is a gain of 4 percent. This increase stemmed from the mornings news about the company’s hiring of the new COO.
Thierry Foucaut is ready to take over the COO position for Reeds. Mr. Foucaut brings over 18 years of experience in sales, marketing and operations for high quality, branded consumer goods.
Chris Reed, founder and CEO, in an earlier statement said, “Looking ahead, we will continue to strengthen our leadership efforts in order to further extend the reach of the Reed’s brand and strengthen our position as a leader within the ‘New Age’ beverage category.”
His primary responsibilities will be managing and overseeing all of the company’s operations which include merchandise operations, inventory planning, fulfillment, sourcing, transportation and IT.
Mr. Reed added, “We are very excited to announce the addition of Thierry to our senior management team. We look forward to utilizing Thierry’s significant operational expertise to further develop and enhance our distribution network and operational processes in order to meet the growing demand for Reed’s portfolio of products.”
Reed’s develops, manufactures, markets and sells innovative, all natural, non-alcoholic beverages, candies and ice creams. Its non-alcoholic Ginger Brews are unique in the beverage industry being brewed from fresh ginger, spices and fruits. The company’s products are sold through specialty gourmet and natural food stores, supermarket chains, retail stores and restaurants nationwide and in Canada.
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