True Drinks Names Tim Lane, Former CEO of PepsiCo Restaurant International, as
IRVINE, CA -- (Marketwired) -- 04/04/13 -- True Drinks, Inc.
(OTCQB: TRUU), a healthy beverage provider with major entertainment
and media company licensing agreements for use of their characters on
its proprietary, patented bottles, is pleased to announce Timothy
Lane as the Chairman of its Board of Directors. Joining Mr. Lane on
the Board of Directors as of October 15, 2012 are Carl Wistreich, Lou
Imbrogno and True Drink's Chief Executive Officer Lance Leonard.
Mr. Lane is currently the CEO and Vice-Chairman of Food Automation --
Service Techniques, Inc. (dba Kitchen Brains), a technology company
providing SaaS-based cloud solutions to the foodservice industry, and
Chairman of the Board of True Drinks.
Mr. Lane is well known for his accomplishments during his nearly
twenty-year career at PepsiCo. Chief amongst these, as CEO of PepsiCo
Restaurants International for Asia and the Middle East (KFC, Pizza
Hut and Taco Bell), he led the expansion PRI throughout the region
including the introduction of KFC into China where it has held its
leading market share position for more than 20 years. This success
created the growth platform which enabled PepsiCo to spin off the
restaurant group into what is presently known as YUM Brands. Earlier
in his PepsiCo career he served as CFO, KFC Worldwide; CFO, Pepsi
International; and CFO of Frito Lay International where he led its
expansion to a position of dominance which it continues to enjoy
Subsequent to PepsiCo, Mr. Lane served as Chairman, President and CEO
of Holiday Inn Worldwide, a hotel group and division of Bass PLC
consisting of 2,300 hotels generating $8 billion in revenue.
Following this tenure he retired from corporate America to Co-found
the Afghanistan Reconstruction Company, ARC as it was known, built
the Kabul-Kandahar highway, the USA embassy complex and numerous
other public works. ARC also started Afghanistan International Bank,
the first privately owned international bank for which Mr. Lane
brought in ING from the Netherlands to run.
Mr. Lane began his career as a management consultant for Touche, Ross
and Company before joining Masonite Corporation, where he served as
general manager of its West Coast Fabrica
ting Division. He also
served as assistant to the chairman at the Consolidated Packaging
Company. Mr. Lane received a Bachelor of Science in accounting from
the University of Dayton and an MBA from the University of Chicago.
Mr. Lane commented, "My tenure at PepsiCo made me keenly aware of the
importance of beverage differentiation and the ability to execute in
trending areas of growth. True Drinks flagship product, AquaBallâ„¢
Naturally Flavored Water, is uniquely positioned in the marketplace
as clearly a healthy alternative to the many high-calorie, sugar
water, beverages marketed toward children. Furthermore, AquaBall's
unique, patented spherical bottles adorned with instantly
recognizable characters attract children's attention engendering
tremendous brand loyalty. In a short period of time our management
team has successfully sold product to leading regional and national
Additionally, Mr. Carl Wistreich has joined the True Drink's board.
He has a broad professional background as a senior executive in
business development, operations, mergers and acquisitions, legal
affairs, and human resources for a $20 billion privately held
company, as an entrepreneur and CEO of his own business, and as a
corporate lawyer for a major international law firm. Mr. Wistreich
was a member of the senior management team at C&S Wholesale Grocers,
the largest distributor of food and related products to grocery
stores in the U.S. with over $20 billion in sales. During his
association with C&S, the company grew from approximately $3 billion
to $20 billion in revenues. Following his time at C&S, Mr. Wistreich
purchased, built up, and successfully sold L&B Truck Services, a
truck dealership group providing truck sales, service and parts
throughout New England. Prior to C&S, Mr. Wistreich was a corporate
attorney with Skadden, Arps, Slate, Meagher & Flom, a major New York
City based law firm. Mr. Wistreich presently also serves on the Board
of Directors of BI-LO Holding, LLC (grocery retailer with
approximately 700 stores and $10 billion in revenue). Mr. Wistreich
holds a J.D. degree from New York Law School, graduating magna cum
laude, and a B.A. from Colgate University.
Mr. Lou Imbrogno also is a new board member of true Drinks. He was
the Senior Vice President of Worldwide Technical Operations for
PepsiCo North America and PepsiCo Beverages International. He was
responsible for Pepsi-Cola's worldwide beverage quality, concentrate
operations, research & development and contract manufacturing. During
Mr. Imbrogno's 40 years with PepsiCo, he served in a variety of field
operating assignments, as well as various staff positions at
headquarters. Mr. Imbrogno is a native of New York and successfully
graduated from the Wharton Executive Program.
True Drinks' CEO, Lance Leonard added, "Our Board of Directors offers
our management team a wealth of direct beverage company experience in
such crucial areas as corporate leadership, new product development,
legal affairs and beverage distribution. They have been critical to
the development of our plans in these and other areas, and they
possess the experience necessary to guide us during our growth phase
About True Drinks, Inc.
True Drinks, Inc. is a beverage company with licensing agreements
with major entertainment and media companies for use of their
characters on its proprietary, patented bottles. AquaBallâ„¢ Naturally
Flavored Water, the Company's vitamin-enhanced water that was created
as a 0 calorie, sugar-free alternative to juice and soda for kids, is
currently being sold into mass-market retailers throughout the United
States. For more information, please visit www.theaquaball.com and
Any statements contained in this document that are not historical
facts are forward-looking statements as defined in the U.S. Private
Securities Litigation Reform Act of 1995. Words such as "anticipate,"
"believe," "estimate," "expect," "forecast," "intend," "may," "plan,"
"project," "predict," "if," "should" and "will" and similar
expressions as they relate to True Drinks, Inc. are intended to
identify such forward-looking statements. True Drinks, Inc. may from
time to time update these publicly announced
projections, but it is
not obligated to do so. Any projections of future results of
operations or the anticipated benefits of the merger and other
aspects of the proposed merger should not be construed in any manner
as a guarantee that such results or other events will in fact occur.
These projections are subject to change and could differ materially
from final reported results. For a discussion of such risks and
uncertainties, see "Risk Factors" in True Drink's report on Form 10-K
filed with the Securities and Exchange Commission and its other
filings under the Securities Exchange Act of 1934, as amended.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the dates on which
they are made.
True Drinks, Inc.
18552 MacArthur Blvd., Ste. 325
Irvine, CA 92612
Alliance Advisors, LLC
(914) 669-0222 x201
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