LOS ANGELES, May 11, 2015 (GLOBE NEWSWIRE) -- Reed's, Inc. (NYSE MKT:REED), maker of the top-selling sodas in natural food stores nationwide, today announced the appointment of Daniel Miles to the role of Chief Financial Officer and Mark Costa to the role of Director of Operations. Mr. Costa's role is a newly created position and will report directly to Chief Operating Officer Mark Beaton.
Chris Reed, CEO and Founder of Reed's, Inc., commented, "This is another big day for Reed's. Dan has 30 plus years of financial management experience starting at Ernst & Young and includes almost 20 years of beverage experience with Pepsi Bottling and Miller Coors where he held senior finance positions in both the field and in the corporate offices. In addition to Dan, I am also excited to welcome Mark Costa to the team. Mark brings over 20 years of beverage experience spanning all levels of the operational supply chain. Mark's career has focused on improving efficiency through cost reductions, eliminating waste and building plant capacity to drive top line growth and bottom line results. We continue to build out the team at Reed's with people who have extensive experience in the beverage industry and we look forward to Dan and Mark contributing to the continued growth of the organization. Lastly, I would like to thank Larry Tomsic for serving as our Interim Chief Financial Officer for the past year and wish him well on his future endeavors."
Dan Miles, Chief Financial Officer of Reed's Inc., commented, "I am excited for this opportunity to work with Reed's, a premier brand in both the natural food and craft soda space. The product's sales growth is a testament to the vision of the founder and the team of employees who built Reed's into the leader that it is today. Throughout my career I have been able to bridge the gap that often exists between the shop floor operations team and the front office finance department. I look forward to working with the team at Reed's and on the renewed focus of driving growth and shareholder value."
Dan Miles is a licensed CPA in the State of California who started with Ernst & Young and progressed through financial managerial roles within the beverage industry and other local business enterprises. Dan managed the financial sector for Coors' largest distributor that grew 250% in 8 years via acquisitions of companies, brands and through organic growth. Dan and Mark Beaton, Reed's Chief Operating Officer, previously worked together at the Pepsi Bottling Group on projects that included the expansion of existing facilities and the extension of new production sites. Recently Dan held the position of interim Chief Financial Officer for the Port of Long Beach and worked for the Central Basin Municipal Water District where he led the production of both the annual budget and the reporting of the results of those enterprises.
Dan Miles will begin serving in the role of Chief Financial Officer on Tuesday May 12, 2015. Larry Tomsic will remain with the Company through the end of May 2015 to assist with the transition of Dan Miles into his new role.
About Reed's, Inc.
Reed's, Inc. makes the top-selling natural sodas in the natural foods industry and is sold in over 15,000 natural and mainstream supermarkets nationwide. In addition, Reed's products are sold through specialty gourmet, natural food stores, retail stores, convenience stores and restaurants nationwide and select international markets. Its seven award-winning non-alcoholic Ginger Brews are unique in the beverage industry, being brewed, not manufactured and using fresh ginger, spices and fruits in a brewing process that predates commercial soft drinks. The Company owns the top-selling root beer line in natural foods, the Virgil's Root Beer product line, and a top-selling cola line in natural foods, the China Cola product line. In 2012, the Company launched its Reed's Culture Club Kombucha line of organic live beverages. Other product lines include: Reed's Ginger Candies and Reed's Ginger Ice Creams. The company celebrated 25 years of hand crafting the best sodas in the world, naturally, in 2014.
