Who’s Your Daddy, a brand management company focused on the marketing, production and distribution of the Who’s Your Daddy®, and King of Energy™ line of beverages, announced today that they have made several changes in their corporate officers and board members in order to restructure operations and shift strategy to focusing on strategic geographic markets with strong market alliances.
First, Michael R. Dunn, who brings more than 34 years of industry related experience in the Food and Beverage market, has been named chairman and CEO. Former President Dan Fleyshman has been named founder and director of sponsorship, and former chairman and CEO Edon Moyal has been appointed to the position of executive vice president of the company’s Marketing and Brand Development division. The new board will now consists of five directors, including Michael R. Dunn, Edon Moyal, Derek Jones, Esq., and two additional seats designated for independent directors with experience in the beverage industry, company development or finance.
Edon Moyal stated, “Michael has been advising us since last September as an investment banking consultant, and it is a pleasure to welcome him to the Board and to the Company on a full-time basis. He brings a wealth of experience in developing and growing companies, as well as an established record of raising capital to fund that growth. His appointment to the CEO role will allow me to spend more time in the field obtaining new customers, supporting existing customers, and continuing to build the brand.”
Mr. Dunn added, “Who’s Your Daddy has developed an excellent brand and great tasting product. We have also restated the financial statements to properly incorporate the accounting for non-cash financial instruments including derivatives, stock options and warrants calculations. Now that we have completed these filings, we can focus as a team to incorporate systems and controls to ensure we complete our filings on a timely basis. Edon and I have currently turned our focus to concentrate our sales and marketing efforts on a selected number of strategic markets.”
He continued, “We have successfully weathered a very difficult period and have learned a great deal as a Company during this process. Our immediate plans are to examine all potential means to rationalize, restructure and/or settle past debts in order to raise capital for growing the business. During the past few months with the Company, I have come to appreciate the tremendous strength in the product and the brand, and I look forward to bringing my years of experience to bear in turning that strength into revenue growth.”
Let us hear your thoughts below: