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ENCINO, CA – Zevia PBC (ZVIA), a player in the bottled and canned soft drinks market with a market capitalization of $225 million, announced the upcoming departure of Ms. Lorna R. Simms, the company’s Senior Vice President, General Counsel, and Corporate Secretary. In a recent 8-K filing with the Securities and Exchange Commission, the company disclosed that Ms. Simms will leave her positions effective April 4, 2025.
The mutual decision was reached on February 6, 2025, and as part of her departure, Zevia and Ms. Simms have entered into a separation agreement. This agreement includes a general release of claims and provisions for certain benefits, which are in line with the terms of the existing severance agreement dated March 3, 2022.
Zevia, headquartered at 15821 Ventura Blvd., Suite 135, Encino, CA, is incorporated in Delaware and has its Class A common stock listed on the New York Stock Exchange under the ticker symbol ZVIA. The company has identified itself as an emerging growth company, which is a designation that allows for certain reporting exemptions under U.S. securities laws.
The filing did not specify the reasons for Ms. Simms’s departure or announce a successor for her role. Such executive changes are of interest to investors as they may influence the company’s strategic direction and governance. The company’s stock performance and market activities following this announcement will be closely watched.
This news comes from a recent SEC filing, which serves as a primary source for this information.
In other recent news, Zevia PBC has reported mixed results for its fourth quarter. The company announced consolidated revenues of $39.5 million, aligning with the upper end of its previously issued guidance range. However, Zevia also disclosed an anticipated adjusted EBITDA loss between $3.9 million and $4.2 million for the same period, which is a significant increase from its previous estimate. This projected loss is mainly attributed to additional investments made during the recent holiday season.
In response to the recent developments, Loop Capital Markets maintained a Buy rating on Zevia PBC and increased the price target from $2.00 to $6.00. The firm’s decision was influenced by Zevia’s revenue achievements and the company’s potential moving forward, despite the larger-than-expected adjusted EBITDA loss.
Moreover, Zevia PBC held its earnings conference call for the third quarter of 2024, where the company’s President and CEO Amy Taylor and CFO Girish Satya discussed unaudited financial results and forward-looking statements. T
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