Purple Beverage Co. has announced the appointment of Michael Wallace as chief financial officer and executive vice president.

Previously chief financial officer and senior vice president of the Radiology Corporation of America, Wallace has a public company accounting background, having also served as a manager with KPMG.

"We're excited to have someone with such a diverse background joining our team," said Purple Beverage founder and CEO Ted Farnsworth. "His accounting background and historic ability to close financial transactions and raise capital makes him invaluable to us and our stockholders."

Earlier this week, just-drinks reported the appointment of Keith Riley, a former director at Red Bull North America, as vice president for on-trade sales at the soft drinks company. Riley will head up the launch of an on-trade marketing campaign across the US.