San Francisco-based flavored water brand Hint announced it has landed two seasoned beverage executives as new leaders for the company.
Former ZOA Energy CEO Michael Pengue has been named Hint’s new CEO, succeeding Blair Owens in the role. Kevin Benmoussa will take over the CFO spot. Both appointments are effective immediately.
Along with the new leadership team, Hint also announced it had secured new funding to “support growth and expansion” through additional working capital. Details on the new funding were not disclosed.
“My first priority is to reinvigorate the enthusiasm for this leading brand. This is a vibrant category, and Hint’s proposition has never been more on-trend than it is today,” Pengue told BevNET. “There are significant opportunities to bring new users into the brand through innovation and brand messaging. We will also look to unlock further efficiencies in our operations.”
Pengue led the Dwayne “The Rock” Johnson-fronted energy drink (recently acquired by Molson Coors) for two years; he also brings nearly 30 years of experience at multinational companies like Nestlé Waters North America, Danone and Keurig Dr Pepper. Benmoussa most recently served as EVP and CFO of cultured meat startup Aleph Farms in addition to holding executive finance roles at Vita Coco, Nestlé Waters North America and PepsiCo.
Hint is no stranger to leadership changes, Hint abruptly removed its founding wife-and-husband team, Kara and Theo Goldin, in November 2021. The board appointed then-SVP of beverage Blair Owens as the interim CEO and COO (Owens would take on the CEO role permanently in 2022). At the time, it was reported that the company might be eyeing an exit.
The Goldins went on to sue their former company over wrongful termination, alleging Hint’s board was retaliating against the pair.