Dive Brief:
- Olipop has appointed Electolit chief executive Christian Patiño Webb as its next CEO as the prebiotic soda brand looks to expand growth after passing the half billion-dollar sales mark last year.
- Patiño Webb will take the top position later this month, with current CEO and founder Ben Goodwin set to step into a research and strategy focused role, according to a LinkedIn post Tuesday.
- Webb will be tasked with charting the new phase of growth for Olipop to “help drive the business in a mission-aligned way” as Goodwin hopes to “double down” on areas like innovation, he said in the LinkedIn post.
Dive Insight:
Olipop’s leadership transition comes as it faces increased competition in the better-for-you soda market. As more consumers seek out functional attributes from their beverages, industry stalwarts such as Coca-Cola and PepsiCo are upping their functional offerings to keep up with new market entrants like Olipop and Poppi.
Last year, Olipop reached a $1.85 billion valuation following a funding round led by Growth Equity Partners. The company has also deliberately upped its research in gut health to back up its health claims and stand out against mounting competition.
“As OLIPOP has surpassed the half-billion mark and professionalized, I’ve been reflecting on where I can have the greatest impact going forward,” Goodwin said in the post. “I want to focus my energy where I have the most passion and can contribute most meaningfully, while bringing in a counterweight to strengthen the areas I’m stepping away from—adding horsepower rather than simply reallocating focus.”
As the soda brand gears up for the next phase of growth, it is hiring an executive with years of CPG experience.
Prior to Electrolit, Patiño Webb worked at Unilever as the vice president of marketing for SmartyPants Vitamins, according to his LinkedIn. He also previously worked at Day One, a sparkling water and CBD company.
In his own LinkedIn post, Patiño Webb said he would focus on scaling the business for the future, strengthening execution and building on the company’s foundation.
“The opportunity to help scale that impact while preserving what makes OLIPOP PBC special is what made this role so compelling to me,” Patiño Webb said.
