Long Island Iced Tea Corp. Announces Changes in Senior Executives as the Company Continues Strong Growth Momentum
July 13 2017 - 5:00PM
Marketwired
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.
Contacts:For InvestorsPhil ThomasLong Island Iced Tea
Corp.1-855-542-2832info@longislandteas.com