Super Coffee’s new CEO is a familiar face: founder and chief operating officer Jordan DeCicco has been named interim chief executive as Tyler Ricks departs.
Ricks, who’s CV includes previous leadership roles at Peet’s Coffee and Bear Naked Granola, among other brands, joined Super Coffee as an investor and board member in 2018 before moving to day-to-day operations full-time as the company’s president in March 2022. He was promoted to CEO in December 2022.
Ricks is leaving to become CEO at a new CPG company, and will remain an investor and advisor to Super Coffee.
“I came in two years ago in what I thought would be a shorter term consulting role to help get the business from a high-growth, highly unprofitable company to more solid footing in this financial environment,” he said, citing an 80% reduction in EBITDA losses as one of his top achievements. “Now that we have the business really starting to turn the corner, it seemed like a logical time to transition to a new CEO that will stick to the strategy we laid out but also bring some new ideas to the table.”
Appointing Jordan DeCicco as CEO – in addition to being a “really nice story” for the founder – puts the company in the hands of someone who’s been a “huge driver of the transformation,” said Ricks.
“I think we really achieved a lot of what Tyler was brought on to help us do,” DeCicco said. “We feel we have a foundation and team and product strategy to keep that going. So I’m ready for it.”
Having launched as a keto-friendly alternative to protein-rich “Bulletproof”-style coffee, Super Coffee’s identity has evolved as its product range and channel spread has expanded. The brand, which has a national distribution partnership with Anheuser-Busch, has grown into a major player in RTD coffee with significant investment and a presence in over 50,000 stores nationwide, but has struggled to temper persistent losses.
As Ricks finishes his run, though, Super Coffee is about “85-90%” to executing its strategic shift towards profitability, the outgoing CEO noted. With an eye on recalibrating efficiencies after several years of heavy spending, the company has cut personnel and marketing spend by 70% and 80%, respectively, DeCicco said.
This year has seen the Austin, Texas-based brand revamp its flagship 12 oz. drink with new packaging and formulation. That product is part of a growing portfolio of lines directed at specific channels, such as newly relaunched 11 oz. Super Espresso for foodservice, 15 oz. Super Coffee XXTRA for convenience stores, and 48 oz. multiserve bottles for grocery.
DeCicco cited encouraging Q1 numbers – total brand velocity is up 7% from January to March, trending up ahead of the expected warm-weather bump – even as the revamped products are still working their way through distribution networks. Ricks estimated they are currently at around 45%, with full expansion being a major priority in the near-term.
Looking ahead, Ricks said Super Coffee’s next permanent CEO should be an “experienced operator” and someone who can provide the company’s braintrust with “the guidance of a good strong thought leadership partner who can help consider all of the different aspects of a decision.”
When asked if he was interested in becoming Super Coffee’s next permanent CEO, Jordan DeCicco was unequivocal.
“Yes, definitely,” he responded. “I think the CEO role obviously will belong to the best person, so we’ll run a search and we’ll hopefully bring some great candidates to the table, and the board, my brothers and myself will hopefully make the best decision long-term for the company. If it turns out to be me, I’d be grateful and I take the responsibility incredibly seriously. But also, if there’s somebody out [there] similar to Tyler who we’d be happy to bring on, we think that would be a great win for the company, too.”