Tropicana Brands Group has appointed Paul Chibe as their new CEO in an effort to improve sales and navigate financial challenges and fruit shortages. Chibe takes over from Glen Walter, who will remain with the company in an advisory capacity until the end of the year. The appointment comes after Tropicana’s spinoff from PepsiCo, with investment firm PAI Partners owning a majority stake in the company.
Chibe brings a wealth of experience in the consumer packaged goods (CPG) industry, having previously served as the CEO of Pabst Brewing Company and the president and CEO of Ferrero North America. He is credited with driving growth and innovation in his previous roles, making him a promising choice for leading Tropicana Brands Group.
The company’s portfolio includes popular brands like Tropicana, Naked, KeVita, Izze, Copella, and Dole’s juice brands. Following the spinoff, Tropicana Brands Group expressed its intention to accelerate growth through innovation and expansion into new drink consumption occasions.
Tropicana has faced challenges in recent months, with reports suggesting possible bankruptcy and a decline in orange supply due to climate change-related issues. The company’s orange supplier, Alico, exited the citrus industry earlier this year, citing economic inviability in growing citrus. Despite these challenges, Tropicana is looking to revitalize its business under Chibe’s leadership and drive growth in the competitive beverage market.
