After an eventful (and sometimes difficult) year for Soylent, co-founder Rob Rhinehart announced today that he will step down from his position as CEO of Shake Corporation. This position will be taken over by Bryan Crowley, president of Soylent's parent company, Rosa Foods.
In his post, Rhinehart said that since Soylent is no longer in the starting stage, he decided to take the reins to a new CEO with more experience in management and in the industry. Crowley joined Rosa Foods in June after twenty years of work. in the food industry, most recently as chief strategy officer at kombucha maker KeVita, acquired by PepsiCo in December 2016.
Rhinehart, who will continue as executive chairman and principal shareholder of Soylent, added that Crowley "has been the chairman of Soylent for most of the year and has already had an undeniable positive impact on our distribution , marketing, supply chain, organization – all the things that a good CEO should do.We have put together a three year roadmap for the company, and I have fully confident in the ability of the management team to execute it. "
Soylent raised approximately $ 74.5 million in financing, including a $ 50 million GV series B round that ended earlier this year. Dubbed as an example of Silicon Valley's obsession with lifehacking when it was founded in 2013, Soylent nevertheless managed to become mainstream. He is now the bestseller in the category of meal replacement drinks from Amazon and started a distribution deal with 7-Eleven in July.
But he has also faced several setbacks recently. In the fall of 2016, Soylent discontinued production of Soylent Powder and Soylent bars after its products made some customers sick and then resumed shipping after reformulating its powder. Soylent received another blow in October when the Canadian Food Safety Agency said its products did not meet all the meal replacement requirements, which required it to stop selling until 39 that the problem be solved.
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