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Stumptown Coffee is continuing its evolution, bringing in an experienced beverage-industry veteran to be its new president.
The new hire is Joth Ricci, until now the chief operating officer of First Beverage, an investment and consulting firm. The industry publication BevNet, which broke the news of Ricci's new job, reports that he's previously served as CEO of Jones Soda and also served as general manager of Columbia Distributing, a large Portland-based beer distributor.
Ricci will report to Stumptown CEO Duane Sorenson, who, as WW first reported, sold a majority interest in the local coffee company to TSG Consumer Partners, a California private equity firm.
Stumptown is expanding its footprint with a new roasting plant in Los Angeles and increasing sales in other cities. Bringing in Ricci, a graduate of Oregon State University, will add financial and distributing know-how to the company.
WWeek 2015