Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders Michael Pengue, CEO at ZOA Energy – Rocking the Boat: Shaking up the world of energy drinks
Summary:
If you're going to jump into the massive beverage market with a brand new product, you better have some incredible experience and a solid team behind you. And that's exactly what today's guest has. On this episode we're sitting down with Mike Pengue, who has been CEO of ZOA Energy since its launch in March of 2021.
Prior to ZOA, Mike was Senior Vice President, General Manager for the Emerging Brands Group at Keurig, Dr. Pepper. He came to Keurig, Dr. Pepper from Bai Brands where he was Chief Strategy Officer, and was instrumental in the 1.65 billion sale to Dr. Pepper Snapple.
Mike also spent 20 years at Nestle Waters North America in a variety of positions. His last role there was Executive Vice President, leading the $5 billion brand portfolio that included Perrier Pellegrino, Nestle's Pure Life, Poland Spring, Ozarka, and Deer Park, among others.
Mike joined me to share the story of ZOA Energy and the amazing founders he's working with. We also discuss why this new drink is standing out and growing at breakneck speed.
Highlights:
- Mike describes the ZOA Energy drink product, who the founders are and their collective strengths (3:04)
- Mike's initial thoughts about joining the company (5:58)
- The brand and what it stands for (7:46)
- The market size and where ZOA fits (9:18)
- ZOA's total addressable market (11:57)
- Mike talks about the company's remarkably fast growth (13:36)
- How the ZOA team have approached marketing spend (15:38)
- Mike talks new flavors and their approach to product size (17:12)
- The challenges that the team is looking at now (21:24)
- Mike discusses their international growth (23:32)
- Managing inflation, supply chain and other economic challenges (24:54)
- The mentors that Mike has had along the way (26:13)
Links:
Michael Pengue bio - Beverage Forum
Feedback:
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.