Reed's Appoints Damian Warshall as COO to Boost Margins After 10% Sales Drop
Reed's named Damian Warshall as chief operating officer, returning to the company after roles at Pittston Co-Packers and Munk Pack. The hire follows a 10% sales drop to $34.1m and an EBITDA loss of $14.6m last year, with Warshall set to drive manufacturing efficiency and margin improvement.
1. COO Appointment and Leadership Change
Reed's has appointed Damian Warshall as chief operating officer, succeeding interim COO Neal Cohane who took on CEO duties after Cyril Wallace's departure. This marks Warshall's return to Reed's following his previous role as vice-president of operations from 2022 to 2024.
2. Warshall's Operational Track Record
At Pittston Co-Packers, Warshall led the revitalisation of a large-scale beverage manufacturing facility and secured a multi-million-dollar revenue pipeline. His prior roles include vice-president of operations at Munk Pack and co-founder and COO of Snowing in Space Coffee.
3. Financial Performance Context
Last year, Reed's net sales declined more than 10% to $34.1m, gross profit fell to $7m from $11.4m, and the group reported an EBITDA loss of $14.6m and a net loss of $15.8m. Gross margin slipped to 20% from 30% in the prior year.
4. Strategic Priorities
Warshall will focus on driving efficiencies across manufacturing and logistics, increasing throughput, and enhancing execution with partners. His mandate includes strengthening operational foundations, improving margins, and building a scalable platform for long-term value.