Prioritizing growth, Caulipower names former PepsiCo exec as CEO
Dive Brief:
- Plant-based brand Caulipower named veteran CPG executive Tyler Ricks as its new CEO, the company said in a press release. Ricks has served on Caulipower’s board since 2022.
- The food company noted Ricks experience working in brand management, innovation and sales at PepsiCo and his time as an executive and investor in the better-for-you food space with companies like Plum Organics, Bear Naked Granola and Yasso Frozen Greek Yogurt. He’s also been CEO four times and invested in more than 40 businesses.
- His appointment comes as Caulipower says it is committing to “a new phase of growth” that follows the launch of nine new product launches during the last year. Caulipower, founded in 2017, has more than $120 million in annual sales.
Dive Insight:
As mid-size food companies aim to reach their next growth phase, new leadership often comes from a well-known source: larger CPG firms. Gail Becker, Caulipower’s founder, said Ricks “leadership skills and experience are the perfect fit for CAULIPOWER and our next phase of growth driven by innovation.” She noted his 30 years in food and beverage, with half of that time working with premium better-for-you brands.
Ricks has worked with several products, including Plum, Bear Naked and Yasso, that larger food conglomerates eventually purchased. Caulipower didn’t say a sale is its long-term goal, but its focus on growth, both during the last year and going forward with Ricks on board, will undoubtedly capture the attention of a food company looking to bolster its better-for-you portfolio.
Ricks is no stranger to Caulipower’s strategy, products or 25,000 stores that sell its offerings after serving on the company’s board for two years. This insight will provide him with valuable experience to enable the seasoned executive to quickly implement his strategy without spending too much time familiarizing himself with a company best known for its cauliflower crust pizza.
Source: fooddive.com