The Alkaline Water Company Appoints Frank Lazaran as Chief Executive Officer
June 03 2022 - 8:30AM
Business Wire
The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the
“Company”) today announced that Frank Lazaran, a current director
of the Company and a 40-year veteran of the retail food industry,
has been appointed as the Chief Executive Officer of the
Company.
Mr. Lazaran was most recently the Chairman, Chief Executive
Officer and President of Marsh Supermarkets and, prior to Marsh
served as the Chief Executive Officer, President and Director of
Winn-Dixie Stores, which was a publicly traded company and one of
the largest supermarket chains in the Southeast. Mr. Lazaran has a
proven track for delivering operational excellence with extensive
leadership experience in scaling organizations in the retail
sector. Richard Wright has resigned from his positions of CEO,
President, and a Director of the Company effective immediately.
“We are excited to have Frank join The Alkaline Water Company as
the Chief Executive Officer and extremely confident Frank and the
team can lead us into the next phase of our growth with Alkaline88.
Frank brings over 40 years of strategic execution, operational
management, and innovation in the retail sector, as well as capital
markets experience that will help continue to accelerate the
Company’s top line growth along with bringing a heightened
attention towards profitability for the Company,” stated Aaron
Keay, the Company’s Chairman.
“On behalf of the board, I want to thank Ricky for his tireless
contributions to the growth and success of Alkaline88 over the last
decade. Alkaline88 remains one of the fastest growing independent
water brands worldwide, and Ricky was a key contributor to the
growth of the brand,” commented Keay. “We appreciate his efforts
and dedication to the Company and wish him the best with his future
endeavors,” remarked Keay.
“With evolving economic conditions that are impacting both
retailers and consumers across multiple channels, Alkaline88 will
continue to put its attention to improving the Company’s bottom
line with a renewed focus towards profitability in the foreseeable
future,” added Keay. “The appointment of Frank is consistent with
his personal track record of being put into similar positions over
his career and is aligned with the Company’s direction, along with
our board of director’s mandate, to evaluate optimization measures
while continuing the brand’s consistent and stable growth. We look
forward in the very near future to disclosing the Company’s pathway
to profitability and providing financial guidance for next fiscal
year,” concluded Keay.
Please find a letter from the Company’s Chairman here:
https://ir.thealkalinewaterco.com/shareholder-letter-2022
About Frank Lazaran:
Frank Lazaran is a 40-year veteran of the retail food industry,
who brings decades of commercial and c-suite experience in scaling
organizations, optimizing operations, and driving innovation in the
retail sector. He has a solid track record for delivering
operational excellence with balanced growth to companies facing
unique challenges and complex situations. He was most recently the
Chairman, Chief Executive Officer, and President of Marsh
Supermarkets, Inc., a multi-format regional food retailer based in
Indianapolis, Indiana. Under his leadership, he led the company
through a successful turnaround. Prior to Marsh, Mr. Lazaran served
as the Chief Executive Officer, President and director of
Winn-Dixie Stores, Inc., which was a publicly traded company and
one of the largest supermarket chains in the Southeast. In
addition, he was the President of Texas based Randalls and Tom
Thumb Supermarkets. He is currently a Senior Industry Partner for
the private equity firm, New State Capital Partners and also serves
as an advisor to the retail industry through his consulting
practice, Galazarano Consulting & Investments.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements.”
Statements in this news release that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations, or intentions regarding the future.
Such forward-looking statements include, among other things, the
statement relating to extreme confidence that Frank Lazaran and the
team can lead the Company into the next phase of the Company’s
growth with Alkaline88; that Frank Lazaran’s experience will help
continue to accelerate the Company’s top line growth along with
bringing a heightened attention towards profitability for the
Company; that Alkaline88 will continue to put its attention to
improving the Company’s bottom line with a renewed focus towards
profitability in the foreseeable future; the statement relating to
evaluating optimization measures while continuing the brand’s
consistent and stable growth; and the statement that the Company
looks forward in the very near future to disclosing the Company’s
pathway to profitability and providing financial guidance for next
fiscal year.
The material assumptions supporting these forward-looking
statements include, among others, that the demand for the Company’s
products will continue to significantly grow; that the past
production capacity of the Company’s co-packing facilities can be
maintained or increased; that there will be increased production
capacity through implementation of new production facilities, new
co-packers and new technology; that there will be an increase in
number of products available for sale to retailers and consumers;
that there will be an expansion in geographical areas by national
retailers carrying the Company’s products; that there will be an
expansion into new national and regional grocery retailers; that
there will be an expansion into new e-commerce, home delivery,
convenience, and healthy food channels; that there will not be
interruptions on production of the Company’s products; that there
will not be a recall of products due to unintended contamination or
other adverse events relating to the Company’s products; and that
the Company will be able to obtain additional capital to meet the
Company’s growing demand and satisfy the capital expenditure
requirements needed to increase production and support sales
activity. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, governmental regulations being implemented
regarding the production and sale of alkaline water or any other
products; additional competitors selling alkaline water and
enhanced water products in bulk containers reducing the Company’s
sales; the fact that the Company does not own or operate any of its
production facilities and that co-packers may not renew current
agreements and/or not satisfy increased production quotas; the fact
that the Company has a limited number of suppliers of its unique
bulk bottles; the potential for supply-chain interruption due to
factors beyond the Company’s control; the fact that there may be a
recall of products due to unintended contamination; the inherent
uncertainties associated with operating as an early stage company;
changes in customer demand and the fact that consumers may not
embrace enhanced water products as expected or at all; the extent
to which the Company is successful in gaining new long-term
relationships with new retailers and retaining existing
relationships with retailers; the Company’s ability to raise the
additional funding that it will need to continue to pursue its
business, planned capital expansion and sales activity; and
competition in the industry in which the Company operates and
market conditions. These forward-looking statements are made as of
the date of this news release, and the Company assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements, except as required by applicable
law, including the securities laws of the United States and Canada.
Although the Company believes that any beliefs, plans,
expectations, and intentions contained in this news release are
reasonable, there can be no assurance that any such beliefs, plans,
expectations, or intentions will prove to be accurate. Readers
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in the reports
and other documents the Company files with the SEC, available at
www.sec.gov, and on the SEDAR, available at www.sedar.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220603005062/en/
The Alkaline Water Company Inc. Jeff Wright Director of
Investor Relations 866-242-0240
investors@thealkalinewaterco.com
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