Reed's Inc. Names Interim CEO Amid Leadership Shift

0:00It's March 25th. You're listening to Hartford News today, AI-powered local news. Reed's Inc., the craft soda company based in Norwalk, just saw a big leadership shift. Chief Executive Ciro Wallace stepped down after less than a year on the job. Neil Cohane, the former chief operating officer, steps in as interim CEO and new board member right away. The board kicked off a search for a permanent replacement. The college joined in May 2025 to tackle supply chain problems, cut costs, and boost the brand amid ongoing losses. Last year, sales fell to $34.1 million from $38 million, and the net loss grew to $15.8 million. Reed's founded in 1989 makes ginger beers and root beers under brands like Reed's and Virgil's. The drinks reach over 32,000 stores nationwide, but the company has battled profitability issues since its 2006 public debut, hit by inventory woes and higher expenses.

1:00Cohane brings decades and beverages from Stensa PepsiCo, Coca-Cola, and so B, plus more than 15 years at Reed's building sales networks. The chief marketing officer also departed, with a board member handling those duties for now. Cohane aims to tighten operations and drive profitable growth. As Reed's keeps pushing its turnaround, this interim setup gives the team stability, while they hunt for the right long-term leader to steady the ship.