Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c)(3) On September 26, 2020, the board of directors of Reed's, Inc., a Delaware
corporation ("Reed's" or the "company") appointed Richard H. Hubli, age 63, to
the position of Vice President of Operations, effective September 28, 2020.
Reed's issued a press release on September 29, 2020 announcing this event.
Mr. Hubli has nearly four decades of diversified experience in supply chain and
operations management. From January 2015 to the present, he owned and operated
Rockhouse Services, LLC, a consultancy focused on operations & supply chain
improvement. From July 2014 to January 2015, he served as SVP of Operations for
Harvest Hill Beverage Company. Prior, from August 2012 to July 2014, he served
as VP of Operations for High Ridge Brands with end-to-end operations
accountability of a copacker based supply chain plus new product delivery &
quality. From March 2009 to July 2012, he served as VP of Operations of Kozy
Shack Enterprises. From March 2008 to March 2009, Mr. Hubli was the VP of
Operations for Fuze Beverages leading, directing S&OP; managing all
operations/supply chain activities while integrating the business unit into
Coca-Cola. From 2000 to 2007, he served as a VP of Operations Strategy
Development at Cadbury Schweppes Americas Beverages where he created the
long-term operations strategy. From 1991 to 2000, Mr. Hubli worked for the North
American division of Colgate Palmolive initially as Director of Technology and
later as Director of Supply Chain Development. In these roles he ran new product
delivery across all business categories and spearheaded supply chain
re-engineering initiatives. At Nestle Foods, where he worked from 1987 to 1991,
he held the positions of Manager Coffee/Tea Industrial Engineering and Marketing
Manager for the Nescafe brand. Mr. Hubli began his five-year tenure with PepsiCo
R&D in 1982 as Program Manager and subsequently became Manager, Concentrate
Operations leading copack production of aseptic juices for the Slice brand. He
began his career as Logistics Analyst for Maxwell House Coffee, then a division
of General Foods, in 1980.
Mr. Hubli earned a BS in Industrial Engineering and an MBA, both in 1979 from
the University of Rhode Island.
Mr. Hubli will receive a one-time signing bonus of $6,000 and an annual salary
of $200,000 with a 30% bonus target. He is eligible to participate in benefit
plans offered by Reed's to its executive employees, including incentive
compensation plans.
There are no arrangements or understandings between Mr. Hubli and any other
person(s) pursuant to which he was selected as an officer of Reed's. There are
no family relationships between any director or executive officer of Reed's and
Mr. Hubli. Mr. Hubli has had no involvement in legal proceedings required to be
disclosed under this Item 5.02.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press release of Reed's, Inc. dated September 29, 2020
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