Dive Brief:
Dive Insight:
Jones Soda touts itself as a maker of premium soda, with many unique flavor offerings that Big Soda wouldn’t touch, including Blue Bubblegum, Pineapple Cream and Strawberry Lime. It has capitalized on its name and reputation by bringing the brand into new beverage categories involving cannabis, prebiotics and hard soda.
The revolving door in the CEO suite likely complicates efforts to grow these innovations in new markets amid competition, an uncertain regulatory environment and a rollback in consumer spending. At the same time, Jones Soda remains a small player in a soda space dominated by Pepsico and Coca-Cola which have tens of billions of dollars in yearly beverage sales. In 2023, Jones revenue was $16.7 million.
“As we continue to launch new and exciting brands, I intend to ensure that Jones Soda will remain committed to focusing on value-creation strategies and operating efficiently,” Norman said in a statement. “I look forward to working with the Board, the management team, and the entire organization to unlock value for the Company’s shareholders and to help identify and bring on a new permanent Chief Executive Officer who can execute on the many exciting initiatives we currently have underway.”
