Z Trim Names Advisory Board
The initial members of the board of advisors include former senior-level executives from some of the largest organizations in the food industry. Listed in alphabetical order, the initial members are:
- Gordon Brunner – Former CTO at Procter & Gamble
- Roger Enrico – Former CEO of PepsiCo
- Jack Greenberg – Former CEO of McDonald's
- James Lawrence – Former CFO of Unilever and General Mills
- Rick Lenny – Former CEO of Hershey's
- Dick Mayer - Former CEO of Kraft Foods and Kentucky Fried Chicken
- Bob Morrison – Former CEO of Quaker Oats and Kraft Foods
- Robert Shapiro – Former CEO of Monsanto and the NutraSweet division of G.D Searle and Company
Acting through Brightline Ventures, a New York-based investment firm, each of these advisors have invested in the company following due diligence. Brightline has invested over $11.4 million in Z Trim Holdings and is the company's largest institutional investor.
"We are extremely pleased to have such a strong and experienced group of advisors join the Z Trim team," said CEO Steve Cohen. "Not only do we have the benefit of a deep pool of talented executives to help guide us, but it's gratifying to know that each have decided to personally invest in the company after learning more about our products and impact they can have on global food production. In 2011, we have added significant pieces – an agreement with a high-capacity toll manufacturer, a network of ingredient distributors, and now, a stellar group of advisors – to begin to fulfill the promise of our revolutionary products."
"Z Trim is a unique ingredient that solves a number of problems for food companies, starting with cost reduction," said Dick Mayer, a former CEO of Kraft Foods and Kentucky Fried Chicken "Beyond that, it adds functionality to the product through moisture management. The fact that it has already shown the ability to enhance a number of high volume products from leading manufacturers is a very strong indicator of its potential in the food industry."
"Now that the company has taken steps to put a plan in place to address production capacity constraints by entering into an agreement with toll manufacturer Aveka, I look forward to helping the company capitalize upon its opportunity within its $30 billion addressable market," said Roger Enrico, a former CEO of PepsiCo.
According to former CEO of McDonald's Jack Greenberg, "An ingredient like Z Trim that can simultaneously reduce cost while improving the taste and nutritional characteristics of an end product could be very valuable to the quick service restaurant industry."
Former chief technology officer of Procter & Gamble Gordon Brunner added, "I am pleased to see that the company has taken steps to scale its production process effectively. The next few years should be very exciting."
From the November 30, 2011, Prepared Foods' Daily News.