NewAge, Inc. announced the departure of Kevin Manion, the company’s Chief Financial Officer, effective earlier this month. Lawrence Perkins will now assume the role of principal financial officer on an interim basis. Perkins and his firm SierraConstellation Partners LLC (SCP), a national interim management and advisory firm that services middle-market companies as they navigate difficult business challenges, have also provided the role of Chief Restructuring Officer (CRO) and additional services to NewAge.
“On behalf of NewAge, I want to thank Kevin for his contributions to our team,” said Ed Brennan, NewAge’s Chairman and interim Chief Executive Officer. “Kevin joined us in the middle of a major integration, and he resolved many operating issues for us. We wish him all the best. Larry and his team have been up and running here at the company for more than two months, so we expect a seamless transition as we continue our efforts to position the company for long-term success.”
Perkins is the founder and Chief Executive Officer of SCP, and will continue in the role of Chief Restructuring Officer, advising the company on financial information preparation, cash flow generation evaluation and stakeholder communication.