Kevin Manion Joins NewAge as Chief Financial Officer
July 21 2021 - 6:00AM
NewAge, Inc. (Nasdaq: NBEV), the Colorado-based
D2C (direct-to-consumer) organic and healthy products company,
today announced that Kevin Manion has joined NewAge, Inc. as its
new Chief Financial Officer.
Brent Willis, Chief Executive Officer of NewAge
commented, “We are thrilled to have someone of Kevin’s background
and tremendous track record of experience join our cause at NewAge.
As we have evolved, we have continued to strengthen the management
team and our organizational capabilities, and Kevin is a perfect
embodiment of that evolution. Kevin will be an incredible addition
to our global operations as we scale NewAge to the next level.”
Kevin began his career at Arthur Andersen and
spent five years in the audit, tax and consulting group focusing on
privately held and venture-backed businesses. He then spent the
next five years at Kraft Heinz as a Controller of one of their
divisions and then at Nestle USA as the Chief Financial Officer for
the Pet Food, Ice Cream and Water businesses. Following Nestle, he
worked for many private equity-backed companies, resulting in
numerous highly successful exits, and then became CFO and General
Counsel for Bolthouse Farms, which he later sold to Campbells for
$1.55 Billion. Following its successful sale, he became Chief
Financial and Operations Officer for Young’s Market Company, a $3
Billion Beverage Distribution Company, and also held several Board
roles for consumer goods companies before joining Calavo Growers
(CVGW), a $1.3 Billion fresh food company as their Chief Financial
Officer where he was most recently before joining NewAge.
Kevin attended The University of Notre Dame and
graduated with a Bachelor’s of Business Administration Degree. In
his new role, he will be leading all the corporate finance,
financial planning & analysis, budgeting and reporting aspects
of the firm, in addition to tax, treasury, risk management and
investor relations. He is a CPA (inactive), Certified Production
and Inventory Control Manager (CPIM), Certified Treasury
Professional, Certified in Investor Relations by NIRI and certified
as a board member by the National Association of Corporate
Directors.
“I am very excited to be joining NewAge at this
important inflection point in the business,” commented Kevin
Manion. “NewAge’s healthy products deliver direct-to-consumer has
the opportunity to be a leading and disruptive model versus legacy
consumer goods industry leaders. This is a business that is
undervalued, and I look forward to partnering with Brent to realize
the full potential of the business and deliver significant value
creation for shareholders as a result.”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 through
primarily a direct to consumer (D2C) route to market distribution
system across more than 75 countries. The company competes in three
major category platforms including health and wellness, inner and
outer beauty, and nutritional performance and weight management —
leading a network of more than 400,000 exclusive independent Brand
Partners around the world.
The company operates the websites NewAge.com,
NoniNewAge.com, ARIIX.com, MaVie.com, TheLIMUCompany.com
and Zennoa.com.
Safe Harbor DisclosureThis
press release contains forward-looking statements that are made
under the safe harbor provisions within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking
statements are any statement reflecting management's expectations
regarding future results of operations, economic performance, and
financial condition. The forward-looking statements are based on
the assumption that operating performance and results will continue
in line with historical results. Management believes these
assumptions to be reasonable, but there is no assurance they will
prove to be accurate. Forward-looking statements, specifically
those concerning future performance, are subject to certain risks
and uncertainties, and actual results may differ materially. NewAge
competes in a rapidly growing and transforming industry, and risk
factors, including those disclosed in the Company's filings with
the Securities and Exchange Commission, might affect the Company's
operations. Unless required by applicable law, the Company
undertakes no obligation to update or revise any forward-looking
statements.
For investor inquiries about
NewAge please contact:
NewAge Investor & Public
Relations:Mindy EardleyDirector, Public and Investor
RelationsTel: 1-801-573-4818Mindy_Eardley@NewAge.com
NewAge Investor RelationsBPC Financial
Marketing800 816 7361ir@bpcfinancialmarketing.com
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