Norwalk-based Reed’s Inc. said its chief executive officer, Cyril Wallace, has stepped down after less than a year in the role.
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Norwalk-based Reed’s Inc. said its chief executive officer, Cyril Wallace, has stepped down after less than a year in the role, as the struggling soda maker continues efforts to improve its financial performance.
The company on Tuesday said Neal Cohane, most recently its chief operating officer, has been appointed interim CEO and a member of the board, effective immediately. The board has launched a search for a permanent successor.
The leadership change comes after Wallace was hired in May 2025 to lead a turnaround effort focused on improving the company’s supply chain, controlling costs and raising brand awareness following years of losses.
Reed’s has continued to face financial challenges. For the full year 2025, the company reported net sales of $34.1 million, down from $38 million a year earlier, while its net loss widened to $15.8 million from $13.2 million.
Cohane brings decades of experience in the beverage industry, including prior leadership roles at PepsiCo, The Coca-Cola Co. and SoBe. He also previously served as Reed’s chief sales officer for more than 15 years, helping expand its retail and distribution footprint, according to the company.
He was named chief operating officer in January.
In a statement, board Chair Shufen Deng said Cohane’s familiarity with the company and industry experience position him to lead during the transition.
Cohane said his immediate priorities will include strengthening operations, improving execution and advancing the company’s strategy for profitable growth.
The leadership shakeup also includes the departure of Chief Marketing Officer Tina Reejsinghani, who was hired by Wallace last September. Board member Rudolf Bakker will take on marketing responsibilities in a fractional role, the company said.
Founded in 1989, Reed’s produces craft sodas and ginger-based beverages under brands including Reed’s and Virgil’s. Its products are sold in more than 32,000 stores nationwide.
The company has struggled to achieve consistent profitability since going public in 2006, citing issues including supply chain inefficiencies, inventory imbalances and rising costs.
