SCOTTSDALE, Ariz.–(BUSINESS WIRE)– The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”) today announced that Frank Lazaran, a current director of the Company and a 40-year veteran of the retail food industry, has been appointed as the Chief Executive Officer of the Company.
Mr. Lazaran was most recently the Chairman, Chief Executive Officer and President of Marsh Supermarkets and, prior to Marsh served as the Chief Executive Officer, President and Director of Winn-Dixie Stores, which was a publicly traded company and one of the largest supermarket chains in the Southeast. Mr. Lazaran has a proven track for delivering operational excellence with extensive leadership experience in scaling organizations in the retail sector. Richard Wright has resigned from his positions of CEO, President, and a Director of the Company effective immediately.
“We are excited to have Frank join The Alkaline Water Company as the Chief Executive Officer and extremely confident Frank and the team can lead us into the next phase of our growth with Alkaline88. Frank brings over 40 years of strategic execution, operational management, and innovation in the retail sector, as well as capital markets experience that will help continue to accelerate the Company’s top line growth along with bringing a heightened attention towards profitability for the Company,” stated Aaron Keay, the Company’s Chairman.
“On behalf of the board, I want to thank Ricky for his tireless contributions to the growth and success of Alkaline88 over the last decade. Alkaline88 remains one of the fastest growing independent water brands worldwide, and Ricky was a key contributor to the growth of the brand,” commented Keay. “We appreciate his efforts and dedication to the Company and wish him the best with his future endeavors,” remarked Keay.
“With evolving economic conditions that are impacting both retailers and consumers across multiple channels, Alkaline88 will continue to put its attention to improving the Company’s bottom line with a renewed focus towards profitability in the foreseeable future,” added Keay. “The appointment of Frank is consistent with his personal track record of being put into similar positions over his career and is aligned with the Company’s direction, along with our board of director’s mandate, to evaluate optimization measures while continuing the brand’s consistent and stable growth. We look forward in the very near future to disclosing the Company’s pathway to profitability and providing financial guidance for next fiscal year,” concluded Keay.
Please find a letter from the Company’s Chairman here: https://ir.thealkalinewaterco.com/shareholder-letter-2022
About Frank Lazaran:
Frank Lazaran is a 40-year veteran of the retail food industry, who brings decades of commercial and c-suite experience in scaling organizations, optimizing operations, and driving innovation in the retail sector. He has a solid track record for delivering operational excellence with balanced growth to companies facing unique challenges and complex situations. He was most recently the Chairman, Chief Executive Officer, and President of Marsh Supermarkets, Inc., a multi-format regional food retailer based in Indianapolis, Indiana. Under his leadership, he led the company through a successful turnaround. Prior to Marsh, Mr. Lazaran served as the Chief Executive Officer, President and director of Winn-Dixie Stores, Inc., which was a publicly traded company and one of the largest supermarket chains in the Southeast. In addition, he was the President of Texas based Randalls and Tom Thumb Supermarkets. He is currently a Senior Industry Partner for the private equity firm, New State Capital Partners and also serves as an advisor to the retail industry through his consulting practice, Galazarano Consulting & Investments.
