Kevin Manion, CFO of NewAge, departed the company on July 1. Lawrence Perkins, who was engaged to provide chief restructuring officer (CRO) and other services to the company along with his firm, SierraConstellation Partners, will assume the role of the company’s principal financial officer on an interim basis.
“On behalf of NewAge, I want to thank Kevin for his contributions to our team. Kevin joined us in the middle of a major integration, and he resolved many operating issues for us. We wish him all the best,” Ed Brennan, chairman and interim chief executive officer of NewAge, said. “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 currently serves as the company’s CRO and advises the company with respect to, among other things, assistance with the preparation of financial information, stakeholder communication and evaluation of cash flow generation capabilities. Perkins has more than 20 years of management consulting and advisory experience with companies undergoing transition. He is the founder and CEO of SCP, a national interim management and advisory firm that provides services to middle-market companies navigating their way through difficult business challenges. Prior to founding SCP in 2013, Perkins was a senior managing director and regional leader of a national consulting firm, where he was responsible for business development, marketing, staffing and general management of the firm’s western region.