Reed's (REED) appoints Cyril Wallace as CEO, updates Board

Reed’s, Inc. (OTCQX: REED), owner of the nation’s leading portfolio of handcrafted, natural ginger beverages, today announced key updates to its executive leadership team and Board of Directors. Cyril Wallace has been appointed to Chief Executive Officer (“CEO”) and Director, succeeding Norman E. Snyder, Jr. who is stepping down to retire. In addition, the Company has appointed seasoned beverage executive Ruud Bakker to its Board.

Mr. Wallace brings more than 20 years of leadership experience from PepsiCo, where he most recently served as Vice President and General Manager overseeing a $3.2 billion territory. A strategic and results-driven executive, Mr. Wallace has consistently delivered strong revenue and margin performance, spearheaded innovative growth strategies and built high-performing teams. Throughout his career, he has earned multiple top sales honors and played a key role in PepsiCo’s diversity and talent development efforts. Mr. Wallace holds a Master of Business Administration in Project Management from the Keller Graduate School of Management at DeVry University and a Bachelor of Arts in Marketing from Georgia State University.

Mr. Bakker joins the Board with more than 25 years of global leadership experience across the beverage industry, including senior roles at Red Bull, Diageo and Heineken. He has led market expansion efforts, brand revitalization initiatives, and innovation strategies across both emerging and developed markets. Mr. Bakker is also the founder of Purple Fox Studios, a beverage innovation incubator that collaborates with entrepreneurs and companies to launch and scale distinctive brands. He holds a Master of Business Administration from Erasmus University and has completed executive programs at Harvard Business School, London Business School, and Kellogg Executive Education.

“We extend our deepest gratitude to Norm for his leadership over the past five years,” said Shufen Deng, Chairperson of the Board. “He helped stabilize and revitalize the Company amid unprecedented industry and macroeconomic headwinds during and after the COVID-19 pandemic. Under his guidance, the Company restructured its operations, optimized costs, and built a stronger foundation for future growth. His expertise, dedication and tireless work will have a lasting impact on our organization.”

Ms. Deng continued, “We are thrilled to welcome Cyril as our new CEO and Director. His strategic vision and operational expertise will be instrumental as we expand distribution, launch new products and drive profitability. We are equally pleased to welcome Ruud to our Board — his extensive international experience and executive positions with leading global beverage companies make him an exceptional addition. Together, Cyril and Ruud will help lead Reed’s into its next chapter of growth.”

“I am incredibly proud of what we’ve accomplished at Reed’s,” said Norman E. Snyder, Jr. “We have built a resilient business, introduced exciting innovations, and improved operations across key functional areas of the Company. I leave knowing that Reed’s is in good hands and look forward to spending more time with my family and cheering on the Company as a shareholder.”

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