Former PepsiCo executive joins Reed's as CEO [Yahoo! Finance]
Diageo plc (DEO)
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Source: Yahoo! Finance
Wallace succeeds Norman Snyder, Jr., who has been the CEO at Reed's for five years and is stepping down to retire. In a statement, Reed's said Wallace had spent more than 20 years at PepsiCo, most recently at VP and general manager level. According to Wallace's LinkedIn profile, he spent the last three years working within PepsiCo's beverage business in North America. Shufen Deng, chairperson of Reed's board, said Wallace's “strategic vision and operational expertise will be instrumental as we expand distribution, launch new products and drive profitability”. In addition, Reed's has added Diageo executive Ruud Bakker to its board. Bakker, who has also worked for Red Bull and Heineken, is VP for marketing and innovation on Diageo's Smirnoff brand. Bakker is also the founder of incubator Purple Fox Studios, which works with entrepreneurs and companies to launch and scale brands. In February, Reed's named Douglas McCurdy as CFO and Salvatore Vassallo as vice president of ope
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