– USA, NC – Primo Water Corporation (NYSE: PRMW | TSX: PRMW), a leading provider of sustainable drinking water solutions, today announced the appointment of Eric Foss to its Board of Directors, effective immediately.
“We are excited to welcome Eric to the Primo Water Board of Directors. Eric is a respected leader, operator, and public company director in consumer-driven industries and has a successful track record of driving growth and profitability. We believe his expertise in scaling and optimizing businesses and building high-performance teams will serve Primo Water, its Board, and its shareowners extremely well,” said Board Chairman, Jerry Fowden.
Stephen Halperin is retiring from the Board at the AGM.
About Eric J. Foss
Eric Foss brings decades of experience as a Chairman, CEO, and executive officer of leading route-based businesses and beverage companies, with a proven track record of expanding scale, improving margins, and driving consistent earnings growth. During his tenure at Aramark, the company was recognized as one of the “Most Admired Companies” by FORTUNE and as one of the “Top 50 Employers” by Diversity Inc. At Pepsi Bottling Group, he helped lead the company through its IPO and a subsequent period of significant growth, overseeing substantial acquisition and integration efforts.
Eric Foss served as CEO of Aramark from May 2012 and as Chairman and CEO from February 2015 until he retired in August of 2019. During his tenure at Aramark, he drove very strong stakeholder value by dramatically improving customer satisfaction and loyalty, building a diverse, inclusive, and engaged workforce, and delivering strong and sustainable financial success by accelerating growth, improving margins, and achieving consistently strong earnings growth which led to solid shareholder value creation.
Before Aramark, he was CEO of Pepsi Beverages Company and served as Chairman and CEO of Pepsi Bottling Group.
Mr. Foss currently serves on the Board of Directors at Cigna and as Board Chair of Diversey Holdings Ltd. and Selina Hospitality plc and is on the National Board of Directors of Back on My Feet Foundation.
About Primo Water
Primo Water is a leading pure-play water solutions provider in North America and Europe and generates approximately $2.2 billion in annual revenue. Primo Water operates largely under a recurring revenue model in the large-format water category. This business strategy is commonly referred to as “razor-razorblade” because the initial sale of a product creates a base of users who frequently purchase complementary consumable products. The razor in Primo Water’s revenue model is its industry-leading line-up of innovative water dispensers, which are sold through approximately 10,000 retail locations and online at various price points. The dispensers help increase household and business penetration which drives recurring purchases of Primo Water’s razorblade offering or water solutions. Primo Water’s razorblade offering is comprised of Water Direct, Water Exchange, and Water Refill. Through its Water Direct business, Primo Water delivers sustainable hydration solutions across its 21-country footprint direct to customers, whether at home or to businesses. Through its Water Exchange business, customers visit retail locations and purchase a pre-filled bottle of water. Once consumed, empty bottles are exchanged at our recycling center displays, which provide a ticket that offers a discount toward the purchase of a new bottle. Water Exchange is available in approximately 17,500 retail locations. Through its Water Refill business, customers refill empty bottles at approximately 23,500 self-service refill drinking water machines. Primo Water also offers water filtration units across its 21-country footprint.
Primo Water’s water solutions expand consumer access to purified, spring, and mineral water to promote a healthier, more sustainable lifestyle while simultaneously reducing plastic waste and pollution. Primo Water is committed to its water stewardship standards and is proud to partner with the International Bottled Water Association in North America as well as with Watercoolers Europe, which ensures strict adherence to safety, quality, sanitation, and regulatory standards for the benefit of consumer protection.
Primo Water is headquartered in Tampa, Florida (USA).
SOURCE: https://www.primowater.com/
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