On the Street -- New Purple CEO

May 5/Fort Lauderdale, Fla./PRNewswire-FirstCall -- Purple Beverage Company Inc. appointed a new CEO to move the company forward.

Geoffrey Winters will take over the helm as the CEO and chairman of the board of directors of Purple Beverage Company Inc. Winters brings to the company a diverse Wall Street background that gives him the ability to navigate Purple through the waters ahead. Additionally, he brings a strong investment banking background to the company, as well as CEO experience, having run private companies.

Purple founder Ted Farnsworth, who will be stepping down as the company's CEO and chairman, said, "After going through a very difficult time over the last several months, we are now re-energized. This is a positive move for the company, the brand and the shareholders. We feel Geoff is the perfect fit to take Purple to the next level."

Winters has received many career awards, with over 30 recognitions for structuring and placing both private and public offerings. He was managing director of Lehman Brothers Brokerage & Investment Banking in New York, where he structured over $2 billion in private and public offerings. He also served as managing director for the New York firms of Paine Webber Equity & Investment Banking and Gruntal & Co. Equity & Investment Banking.

"I believe Purple was just one more victim of the current financial environment, but now the company will position itself for the future," said Winters. "I think the brand has great value, and I look forward to the challenge. We will be looking at various options for the company including joint ventures and acquisitions."

From the May 11, 2009, Prepared Foods E-dition