CEO, COO & CFO are leaving Sunny Delight
Steve’s breakdown: This move come a month after Brynwood Partners bought the company. All this screams Agency Review — probably this spring.
CINCINNATI, OH: After more than a decade at the helm of Sunny Delight, Billy Cyr is stepping down as the company’s president and CEO.
Cyr confirmed his departure – effective at the end of this month – in a call with BevNET Thursday. The news comes a month after Greenwich, Connecticut-based private equity firm Brynwood Partners announced its acquisition of the company from fellow private equity firm J.W. Childs Associates, which purchased Sunny Delight from Procter & Gamble in 2004.
“This has been a great ride,” Cyr said. “Now it’s time for new ownership to step in and see where they can take the business next.”
Also stepping down is Sunny Delight’s chief financial officer and chief operating officer William Schumacher, who had been with the company since 2006. Both men elected to sell their shares in the company upon its liquidity event.
Succeeding Cyr is Sunny Delight’s vice president of strategy and planning, Tim Voelkerding, who’s been elevated to president of the company.
Cyr said he hasn’t given much thought to what’s next for him but indicated he expects to return to the food and beverage industry in some capacity at some point.
“My focus has been on getting this deal done and getting our team to this point so I haven’t spent much time thinking about what’s next,” Cyr said. “But I love the beverage industry, I love the food industry and I certainly expect to be back in and actively engaged in it at some point.”
Upon its announcement of the acquisition on Jan. 14, Brynwood Partners’ chairman and CEO Henk Hartong indicated that Sunny Delight would operate separately from Brynwood’ Partners’ beverage portfolio company Harvest Hill, but that the two would “explore ways to seek synergies that could benefit both companies.”