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Then in September 2022, Monster Energy got a massive jury award in a separate case against VPX and Owoc. 

A jury awarded Monster Energy $292.9 million based on claims of false advertising, trade secret misappropriation, violation of the federal Computer Fraud and Abuse Act, and interference with retail shelf space contracts. 

 It was no surprise that Monster was identified as Bang’s largest unsecured creditor in bankruptcy court papers.

Besides the legal conflicts with Monster and the breakup with snack and beverage giant PepsiCo, Bang has also experienced the ouster of its outspoken CEO Jack Owoc. And the company initially filed for bankruptcy in October 2022.

Immediately after the initial bankruptcy filing Kathy Cole was hired as the new COO. She was tasked with the “integration of a new high-performance operations model.” Unfortunately, she left the company a few months later. 

 Meanwhile, several large chain retailers reportedly stopped carrying Bang.

Jack Owoc man on a mission

 John “Jack” Owoc was the company founder. And he previously was listed as Bang’s CEO and sole shareholder.

In the months after its bankruptcy, Owoc claimed Bang was on track to complete “the greatest comeback in beverage history.” He talked about rallying around the new products and embracing independent distribution partners to replace Pepsico. 

Owoc, the controversial founder of Bang Energy was shut out of negotiations by the parent company VPX. With no notice, he and his wife Megan the Senior Vice President of Marketing were fired. 

Owoc was out as the company’s chief executive and chief science officer, and from its board of directors, where he had served as chairman. John C. DiDonato, Vital’s chief transformation officer, was appointed interim CEO.

The company announced the move in a brief press release on March 9.

“On behalf of the Board of Directors, we acknowledge Jack’s vision in founding this leading brand and creating a world-class product in the energy drink category. As the Company continues to pursue value maximization, we are grateful to Mr. DiDonato and the executive leadership team for their stewardship and to the talented and hard-working members of the Bang Energy team for their unyielding commitment to the brand,” said Steve Panagos, VPX Chairman of the Board.

According to the release, DiDonato had “more than 35 years of experience leading companies through complex financial and operational transformations.”

As part of the restructuring, Gene Bukovi was elevated to the position of Chief Operating Officer.

Owoc sidelined

Owoc responded to the ouster by emailing all Company personnel with an update entitled “HOSTILE TAKEOVER – MEG AND JACK FIRED!”