Honest Tea co-founder relinquishing CEO role
Seth Goldman, the co-founder and "TeaEO" of Honest Tea, is transitioning out of his active role in the company to become executive chairman of a food startup. As Coca-Cola integrates Honest Tea further into its brand portfolio, Goldman, who still owns less than 10% of the company he started almost 20 years ago, will remain in a part-time position at Coca-Cola and work in the Venture and Emerging Brands unit. Goldman helped guide Honest Tea to $170 million in annual sales by positioning it as an alternative to sugary sodas with a commitment to social responsibility. The company is expected to sell 300 million bottles of drinks this year. Goldman will take up the position of executive chairman of Beyond Meat, a California startup for plant-based products that aim to mimic the taste and protein value of meat.