US: Jones Soda Co CEO becomes largest shareholder
Jones Soda Co has seen its CEO become its largest shareholder
The CEO of Jones Soda Co is now the US firm's largest shareholder after buying an additional 1.8m shares in the group.
Jennifer Cue, who took the top role two years ago, has increased her personal stake in the Seattle-based soft drinks firm to 2m shares. Her latest share purchase, on 20 August, has resulted in US$523,000 cash going to Jones Soda.
Cue has been in the process of restucturing the business since taking over the CEO role. However, in half-year figures, reported earlier this month, the group saw its net losses widen, as sales slipped by 8%.
Today, Cue said: “I’m all in. Our employees, shareholders, distributors and new retail and corporate partners understand my drive to create profitable relationships.
"Our line-up is now in place. We have a powerful brand with untapped market potential, an updated product line that matches today’s consumer preferences, and a stronger force of distributors that are better suited for what we want to accomplish at retail and on fountain.”
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