"Mike combines exceptional marketing and operating skills, which he has applied to accelerate growth in PepsiCo's beverage and restaurant sectors, as well as several private equity portfolio companies," said Ted Farnsworth, CEO of the Purple Beverage Company.
As executive vice president and chief marketing officer for PepsiCo's beverage sector, he is credited with authoring the company's "Big Event Marketing" strategy, which coupled high-profile events with the company's beverage trademarks. He also built PepsiCola East, a $1.5 billion operating unit of PepsiCo. Later, as president of Pizza Hut's international division, he led a "Global or Bust" charge, expanding Pizza Hut's global footprint from 68 to 92 countries.
"We are very pleased to attract someone with his leadership, beverage experience and global perspective," added Farnsworth.
Lorelli's 25 years of Fortune 100 senior leadership experience also includes Bristol-Myers Squibb. His private equity CEO engagements include Rutledge Capital and Cerberus companies.
"The new age segment of the beverage market is hot, and PURPLE is on the cutting edge of innovation by combining seven of the most powerful fruits in this antioxidant-rich product," said Lorelli.
"I can't begin to imagine how many times someone with the industry expertise that Mike Lorelli has is approached by new beverage companies," said Farnsworth. "His decision to join the Purple team is a great endorsement of our concept and product that validates what I've believed since founding the Purple Beverage Company -- the antioxidant beverage space is growing at an exponential rate and that there is a huge market for PURPLE."
From the November 5, 2007, Prepared Foods e-Flash