Tractor Beverage Co. Reorganizes Exec Team
Tractor Beverage Co. announced it has repositioned key figures within its executive team this week as well as the hiring of Justin Herber – formerly of creative agency Another – as Tractor’s new Chief Marketing Officer (CMO). Kevin Shurman previously served as the company’s CMO and now has assumed the role of CEO from Luke Emery, who has taken on the role of Chief Growth Officer.
Emery explained that the “healthy environment” between Tractor’s Board of Directors and Executive team led to some honest discussions about the benefit of repositioning team members to better utilize their expertise. The group agreed a realignment would benefit the overall brand and drive the company’s growth to the next level, said Sherman.
“Kevin is an extraordinary leader who is the perfect person to take the torch as our CEO,” stated Emery. “I have a lot of experience in this space, and Justin is one of the best in the business, both creative and marketing. We also have an amazing team and all of us are solely focused on our mission without any ego or pride – it’s always about the team and our mission first.”
As Chief Growth Officer, Emery said he will strive to continue disrupting the foodservice beverage category while also focusing on catering to the growing consumer demand for organic and non-GMO products that have previously been unavailable in that channel. The team noted they have a goal of reaching $70 million in revenue by 2022 and report they are already on that track to accomplish this goal after 470% growth in 2021 thus far.
“In 2018 we reported $2.6 million, 2020 we were $14 million,” said Tractor’s new CEO, Kevin Sherman. “We’re now looking at $4 million a month.”
According to Emery, Sherman’s background building brands, strategic way of thinking and “relentless pursuit of greatness” makes him one of the company’s greatest assets in the role of CEO. He also noted that Sherman’s leadership capabilities and close relationship with their board and owners will be a significant driver in increasing shareholder value.
Herber also brings a long-standing commitment to the brand, its purpose and mission to his new role as CMO, said Emery, having previously advised Tractor on its marketing strategy and building the brand’s story in his role at Another as an agency partner. As CMO, Herber will continue furthering the brand’s story and will focus on raising consumer awareness.
“Kevin, Justin, and I along with our entire leadership team and company have a very high level of respect for one another,” said Emery. “At the end of the day, as a team we have a deep-rooted purpose and wake up every day to live out this legacy of making a true and lasting impact on the world.”
Purejuana Appoints Former Vertosa Exec as Sales Leader
Cannabis beverage maker purejuana announced the appointment of Paulo Sobral as Sales Leader this week. The new role was created as the company’s CEO Matt Cohen looks to reduce his involvement in sales management as the company expands throughout California.
“There are not many people I run into in the cannabis space that I click with as easily as I have with Paulo,” said Cohen. “Our outlook on cannabis adult beverages is aligned and our skills are very complementary. Paulo filled a key role for a player hard to find in this space. His leadership qualities for cannabis beverage sales are unmatched and his instincts and sensibilities in business made him a perfect fit.”
Sobral has an extensive background in the beverage and cannabis industries, previously holding senior sales positions at brands such as PepsiCo, Vertosa and Bloom Farms. Sobral said his experience at Bloom Farms in particular gave him insight to the shift in perception about cannabis products and a firsthand look at the uptick in “social use” of cannabis beverages as the category continues to expand.
“My experience at Bloom Farms gives me a unique perspective on what’s important for both cannabis retailers and consumers,” said Sobral. “It’s simple, cannabis beverages should be enjoyed like other beverages. Historically that has been in social settings, so we will focus on events in key markets. It’s a bit of a shift from the existing cannabis product purchases that are often enjoyed at home in solitude.”
Sobral said he also has plans to implement new initiatives when it comes to developing relationships with retailers by offering merchandising solutions to compliment the dispensary’s existing aesthetic. He explained that capitalizing on the single-pack format of purejauna products in the merchandising process will help create more “add-ons to transactions” by consumers already in the store.
ZX Ventures Names Bert Naverrete as General Partner
Bert Naverrete has joined ZX Ventures as General Partner, Head of Growth Equity Fund, where he will manage a global team and lead equity investments in the direct-to-consumer, B2B, Fintech and circular economy.
A co-founder of Merrill Lynch’s seed stage capital fund, Navarette brings over two decades of experience in venture capital, including roles at funds including Bullpen Capital, Mitsui & Co., Internet Capital Group and Odyssey Infrastructure. He is also the co-founder and managing partner at New York-based Beta Bridge Capital.
ZX Ventures is the global investment and innovation arm of Anheurser Busch InBev, with investments in brands like GHOST Energy, HiBall, Canteen Spirits and Super Coffee.
“I look forward to working with the executive team at AB InBev to continue its global expansion into new areas of growth as we continually innovate and digitize the most storied brands in history,” Naverette posted on LinkedIn. “Through my conversations with Michel Doukeris, Fernando Tennenbaum, Pedro Earp, and Bernardo Novick, it is clear to me that ZX has been uniquely positioned to achieve these goals through a clear mandate to invest in and build innovative new businesses for AB InBev, and I’m excited to join them on this mission. I’m excited to work with each of them, our portfolio companies, and the entire AB organization.”
Basemakers Brings Faithe Rayns On As Chief Operating Officer
Field sales and retail merchandising company Basemakers announced the hiring of CPG industry veteran Faithe Rayns as Chief Operating Officer this week. Rayns comes to the company with over 17 years of human resources experience and will focus on streamlining recruiting operations, brand partner management, field sales and team member training and development in her new position.
“Joining Basemakers is an exciting next phase for my career because my experience fits perfectly with the company’s next phase of growth,” Rayns said in a press release. “I am passionate about building high performing teams and growing and developing talent, underpinned by a strong culture. To apply the insights and frameworks I’ve developed over the past 17 years to this fast-growing business will be rocket fuel, helping us reach new heights.”
Rayns previously held the position of Chief People Officer at Pabst Brewing Company as well as Director of Human Resources at Reckitt and Global Talent Development Director at Diageo. She has worked with notable brands such as Don Julio, Johnnie Walker, Smirnoff and Lysol during her career.