LOS ANGELES - Zevia PBC (NYSE: ZVIA), known for its zero sugar and plant-based beverages, announced the appointment of Girish Satya as its new Chief Financial Officer (CFO), effective tomorrow. Satya, with over two decades of experience in finance and strategy for consumer-focused businesses, joins Zevia from Backcountry, where he was serving as CFO.
The company expressed confidence in Satya's ability to contribute to Zevia's growth and profitability, with President and CEO Amy Taylor praising his "sharp strategic lens and dynamic leadership skills." Taylor also acknowledged Florence Neubauer for her role as Interim CFO and her ongoing contributions to the company.
Satya's career includes key financial positions at various consumer-driven companies. Before his role at Backcountry, he was a principal at TSG Consumer Partners, focusing on branded consumer products and services. He has also held CFO positions at The Bay Club Company and Pasta Pomodoro. His educational credentials include a BS in Economics from Fordham University and an MBA from the Booth School of Business at the University of Chicago. Satya also serves on the board of Canyon Bicycles GmbH.
Upon his appointment, Satya expressed enthusiasm for joining Zevia and leveraging his expertise to further strategic initiatives aimed at driving shareholder value. He emphasized the company's strong position to capitalize on market opportunities, particularly in the context of increasing consumer awareness and demand for healthier beverage options.
The information in this article is based on a press release statement from Zevia PBC.
InvestingPro Insights
As Zevia PBC (NYSE: ZVIA) welcomes Girish Satya as its new CFO, the company's financial standing and market position come into focus. According to InvestingPro data, Zevia holds a market capitalization of 112.72 million USD, reflecting the size of the company in terms of its equity value. The company's price-to-book ratio over the last twelve months as of Q3 2023 stands at 1.12, indicating the market's valuation of the company relative to its book value.
Despite Zevia's efforts to position itself in the growing market for healthy beverages, the company has not been profitable over the last twelve months, with a negative P/E ratio of -4.41. This metric may be of interest to investors considering the company's future earnings potential, especially under the financial stewardship of the newly appointed CFO.
InvestingPro Tips highlight that Zevia is trading at a low revenue valuation multiple, which could suggest a potential undervaluation compared to its peers. Additionally, the company's liquid assets exceed its short-term obligations, providing a degree of financial stability. However, analysts do not expect Zevia to be profitable this year, which could be a point of concern for potential investors.
For those considering an investment in Zevia, there are additional insights available on InvestingPro. There are a total of 9 InvestingPro Tips that can further guide investment decisions. To explore these tips and gain a deeper understanding of Zevia's financial health and market position, visit https://www.investing.com/pro/ZVIA. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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