Hill Street Beverage Company Inc (CVE:BEER), which makes alcohol-free beer and wine as well as adult-format beverages, said that it has made changes to its board of directors and has formed “new board observer roles.”
Toronto-based Hill Street said that in step with its recently finalized capital raise, the firm appointed well-known management consultant and entrepreneur Frank Vizcarra to the company’s board.
In 2006, Vizcarra founded the Vizcarra Consulting Group (VCG) to help CEOs define their strategies to drive their business. Vizcarra retired from professional soccer at the end of 1983 and began his career in business by working for Pizza Hut. In 1985, he joined McDonald's Corporation where he worked for 20 years in senior positions.
"I am excited to be joining the Hill Street Board at a pivotal time, as this next stage of development is all about leveraging their world-class assets and focusing on disciplined execution to bring their plans to life on a global scale," Vizcarra said in a statement.
Hill Street Chairman Jack Fraser said that Vizcarra brings “formidable expertise to the board”.
“His extensive experience leading global strategy and innovation for McDonald's Restaurants, coupled with his deep entrepreneurial experience in the food service and craft beverage categories are highly relevant to our business model," added Fraser. "Frank's direct experience in global markets including the US, Mexico and Europe will add distinct operational value as we leverage our usage rights to the DehydraTECH technology."
The firm said it also appointed Monica Zaragoza as a board observer to help the company in its strategic planning and governance.
"I am honored to join Hill Street as a board observer and will look to bring my B2B expertise to bear as the company augments its legacy consumer product business with progressive cannabis solutions in the commercial ingredient space," said Zaragoza.
Fraser noted that Hill Street is “very excited to have Monica join us as a new major investor and also as a board observer.”
“Zaragoza's extensive leadership capabilities and B2B expertise as CEO of Gabza Mexico, will be a strong addition in experience and insight that will further expand the diversity of our board," added Fraser.
Meanwhile, major shareholder Rudy Sawatzky will be stepping down from the board to assume a board observer role. The company said that Sawatzky intends to keep his investment in Hill Street, and shift into the new role to allow for the addition of Vizcarra to the board.
"Over the years Rudy has been a key contributor to Hill Street, mentoring and guiding the board through complex discussions," said Fraser. “With the addition of Mr Vizcarra and Ms Zaragoza to our team alongside Lori Senecal and Craig Binkley as co-CEOs, we believe our ability to continue building out the vision of Hill Street has never been stronger."
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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