Long Island Iced Tea Corp. Announces Changes in Senior Executives as the Company Continues Strong Growth Momentum
HICKSVILLE, NY–(Marketwired – Jul 13, 2017) – Long Island Iced Tea Corp. (NASDAQ: LTEA) (the “Company”), a growth-oriented company focused on the non-alcohol ready-to-drink (“NARTD”) tea segment in the beverage industry, today announced a number of changes to its senior executive line-up.
Executive Chairman Julian Davidson relocates to the US
Mr. Davidson, who first joined the Company in June 2015 as a consultant and subsequently appointed as Executive Chairman of the Board of Directors in June 2016, will be based out of New York (having previously commuted from New Zealand) and will continue to work closely with management on the development and execution of the Company’s domestic and international growth strategies.
Philip Thomas, Chief Executive Officer of the Company, commented, “Julian’s involvement has been instrumental to our recent growth and we are excited for him to be moving to New York as we enter the next critical phase of growth for the Company. Julian has extensive experience in the beverage industry and continues to add significant value as Executive Chairman.”
Mr. Davidson added, “After commuting between New York and New Zealand for the last two years, I am very excited to be based in New York and to play an even greater role in taking our company and our brands to the US and the world. I am very excited to be much closer to our consumers and our customers.”
Mr. Davidson has over 25 years of experience in the beverage industry, including most recently serving as Chief Executive Officer of Independent Liquor NZ’s businesses in New Zealand, the United States and Canada. Independent Liquor NZ is New Zealand’s leading manufacturer and distributor of pre-mixed RTD alcoholic beverages, as well as having beer, spirit and cider portfolios, and is recognized for its highly innovative approach to brand development and marketing. In addition to being responsible for Independent Liquor’s New Zealand, US and Canadian operations, Mr. Davidson’s senior management career in the beverage and hospitality industries includes positions with Lion Nathan New Zealand and Australia, PepsiCo New Zealand and Australia, and the Lantern Hotel Group. Mr. Davidson is also on the Board of Directors of Smartfoods, an innovative New Zealand food producer.
Chief Financial Officer Richard Allen transitions out of role
Richard Allen, who joined the Company in July 2016, is leaving the Company after completing one year in the role. Mr. Allen will transition out of the role over the next two months, leaving the business effective August 15, 2017. Mr. Allen’s role will be temporarily accommodated by the Company’s Chairman/CEO/CSMO, who collectively have significant financial and operating experience, while the Company searches for a candidate to fill the CFO role.
About Long Island Iced Tea Corp.
Headquartered in Long Island, NY, Long Island Iced Tea Corp. operates in the non-alcohol ready-to-drink segment of the beverage industry. The Company’s flagship brand ‘The Original Long Island Brand Iced Tea®‘, together with ‘The Original Long Island Brand Lemonade™’ are marketed as premium beverages made with non-GMO ingredients. The company also imports and markets ‘ALO Juice®‘ a functional Aloe Vera based beverage. The Company’s portfolio of premium brands sits within the ‘better-for-you’ category of the beverage industry, and are offered to consumers at an affordable price, reflecting the Company’s mission. Its beverages are sold primarily through a network of regional chains and distributors primarily on the East Coast and the Midwest of the United States, as well as Canada and Latin America. The Company’s website is www.longislandicedtea.com.
Forward Looking Statements
This press release includes statements of the Company’s expectations, intentions, plans and beliefs that constitute “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company’s business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “thinks,” “estimates,” “seeks,” “predicts,” “could,” “projects,” “potential” and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include its history of losses and expectation of further losses, its ability to expand its operations in both new and existing markets, its ability to develop or acquire new brands, its relationships with distributors, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption “Risk Factors.” When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.
Long Island Iced Tea Corp.