Bang Energy CEO Jack Owoc made an audacious move to terminate his company’s exclusive distribution partnership with beverage giant PepsiCo, Inc. (NASDAQ: PEP).
Owoc’s decision showed that he is not afraid to end his business relationship with any company even with the beverage giant if it fails to deliver its promises. He demands excellent performance to ensure Bang Energy’s growth.
In a statement on Tuesday, Owoc said PepsiCo failed to meet his expectations based on its massive resources and promises.
“We sincerely expected PepsiCo to execute at an even higher level based on their enormous resources and promises. Unfortunately, we were wrong. PepsiCo, you’re fired,” he said.
Owoc also stated that Bang Energy “continues to have, a remarkable 11-year relationship with many of its prior distribution partners, including the independent Pepsi bottlers.”
Vital Pharmaceuticals, the owner of Bang Energy, entered into an exclusive distribution partnership with PepsiCo last April. The Florida-based zero-calorie energy drinks maker expected the beverage giant to significantly increase the distribution of its products to meet increasing demand.
