Alt-Dairy creamer brand Nutpods, acquired by private equity firm MPearlRock in January, has a new CEO. Founder Madeline Haydon, who started the brand in 2013, said today she is moving on, passing the torch to new CEO Matt Witherell, the former CEO of Humm Kombucha.
“The future is bright and I’m handing everything over to Matt,” Haydon said. She added that she would be transitioning out at the end of the month.
Haydon told us that Witherell was her “handpicked successor” and that the two of them had gotten to know each other over the past 4-5 years. Both Nutpods and Humm, recently sold to SYSTM Foods, were previously backed by VMG.
Under Haydon the brand grew to 36 employees — still very lean for a brand with 15,000 retail accounts and the top plant-based milk in online sales. Haydon said she’s proud of the fact that Nutpods continues to go toe-to-toe with big companies despite its scrappy beginnings, citing sales that place it in the top ranks of milk substitute brands.
“Being able to do that with this small, insurgent team has been tremendous,” Haydon said.
The brand has had 16 months of consecutive growth, said Witherell. Haydon saluted her successor as both a “great cultural fit” as well as experienced operator who held leadership roles at Red Bull and Miller Coors before eventually moving to Humm.
Haydon will remain on the Nutpods board but said she needs a break.
“I’m excited to apply what I’ve learned, but give this semi-retired thing a go,” she said. “I’m so proud of the race I’ve run. It’s time for someone else to take the baton.”