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Posted 20 July, 2023

Fresh Vine Wine, Inc. appointed Michael Pruitt as new CEO

NYSE:VINE appointed new Chief Executive Officer Michael Pruitt in a 8-K filed on 20 July, 2023.


  On July 19, 2023, the Company's Board of Directors appointed Michael Pruitt, the Non-Executive Chair of the Company's Board of Directors, to serve as Interim Chief Executive Officer, effective immediately.  

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Overview of Fresh Vine Wine, Inc.
Consumer Goods • Alcoholic Beverages/Drinks
Fresh Vine Wine, Inc. produces low carb and calorie premium wines. Its varietals currently include Cabernet Sauvignon, Chardonnay, Pinot Noir and Rose. The firm sales channels include wholesale, retail, and direct-to-consumer (DTC) channels able to conduct wholesale distribution of wine in all 50 states and Puerto Rico. Its wholesale distribution network includes 30 distributors, including a distribution agreement with Southern Glazer’s Wine and Spirits. The company was founded by Julianne Hough, Nina Dobrev, Rick Nechio and Damian Novak in May 2019 and is headquartered in Plymouth, MN.
Market Cap
$12.5M
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Fresh Vine Wine, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.


Termination of Employment - Chief Executive Officer and Chief Financial Officer and Secretary


On July 14, 2023, Roger Cockroft's employment with and service as Chief Executive Officer of Fresh Vine Wine, Inc. (the "Company") ended. 


On July 14, 2023, Hitesh Dheri's employment with and service as Chief Financial Officer and Secretary the Company ended. 


Resignation of Directors


On July 17, 2023, Roger Cockroft and Michelle Hawkins Whetstone each resigned as a member of the Company's Board of Directors, effective immediately. The resignations of Mr. Cockroft and Ms. Whetstone were not due to a disagreement with the Company on any matter relating to the Company's operations, policies or practices.


Appointment of Interim Chief Executive Officer and Chief Financial


On July 19, 2023, the Company's Board of Directors appointed Michael Pruitt, the Non-Executive Chair of the Company's Board of Directors, to serve as Interim Chief Executive Officer, effective immediately. In this capacity, Mr. Pruitt will serve as the Company's principal executive officer. Mr. Pruitt's professional biography is set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the Securities and Exchange Commission on March 31, 2023.


On July 19, 2023, the Company's Board of Directors appointed Keith J. Johnson to serve as Interim Chief Financial Officer of the Company. In this capacity, Mr. Johnson will serve as the Company's principal financial and accounting officer. Under the terms of his engagement, the Company is paying an hourly wage of $200 to Mr. Johnson. Mr. Johnson previously served as the Company's Interim Chief Executive Officer from May 3, 2023 until May 25, 2023. Mr. Johnson's professional biography is set forth in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on May 31, 2023.