Cyril Wallace resigned as CEO after less than a year in the position, and COO Neal Cohane has been named interim CEO while the board conducts a search for a permanent successor. Chief marketing officer Tina Reejsinghani also departed, with board member Rudolf Bakker stepping in as fractional CMO to maintain marketing operations during the transition.

Reed's reported 2025 net sales of $34.1m, down more than 10% from the prior year, and gross profit fell from $11.4m to $7m, reducing gross margin to 20% from 30%. The company recorded an EBITDA loss of $14.6m versus a $7.3m loss in 2024 and a net loss widened to $15.8m from $13.2m, with fourth-quarter sales sliding 22% to $7.5m.

Neal Cohane joined Reed’s leadership team in January and brings over 15 years of prior sales leadership at Reed’s alongside roles at Eastroc Beverage, PepsiCo, SoBe and The Coca-Cola Company. He has also founded Rootstock Brands, advising beverage firms on market strategy, and aims to stabilise operations and support sustainable growth following fourth-quarter improvements.