Innovation Beverage Group (IBG) said Friday it appointed Sahil Beri as interim chief executive officer while the search is underway for a new CEO and the company is pursuing expansion plans.
Beri, who serves as chair and chief operating officer, succeeds Dean Huge, who resigned to pursue other interests
The leadership change comes as the beverage manufacturer focuses on growth, including an expansion into the eastern US market.
IBG said its Australian Bitters Company and Bittertales brands are now being rolled out in the US under a sales services agreement with Atlanta-based Blue Ridge Spirits & Wine Marketing.
This eastern US rollout is part of a broader strategy to strengthen its presence in key North American markets, according to the company.
Shares of Innovation Beverage Group were down nearly 5% in recent trading.
Price: 1.06, Change: -0.05, Percent Change: -4.93
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.