(Bloomberg) -- AG1, the nutritional-drink business formerly known as Athletic Greens, has named Kat Cole as chief executive officer, succeeding founder Chris Ashenden.
Cole, who joined in 2021, was previously president and chief operating officer. Ashenden, who founded AG1 in 2010, will continue as a director, the company said in an emailed statement.
The business is “projected to do well over $600 million in revenue and be profitable this fiscal year,” Cole said, sharing previously unreported financial metrics for the closely held company.
Before joining AG1, Cole was president and COO of Focus Brands, now called GoTo Foods, which operates a portfolio including ice-cream retailer Carvel and pretzel chain Auntie Anne’s.
Cole has “effectively operated as co-CEO in everything but name,” Ashenden said in the statement.
The company, which is registered in Nevada but says it’s fully remote, has members of its leadership team in New York, Atlanta and Los Angeles. Its best-known product, AG1, is a supplement that comes in powder form.
Investors including Alpha Wave, SC Holdings, David Blitzer’s family office Bolt Ventures, rock climber Alex Honnold and Formula 1 driver Lewis Hamilton have backed the company.
©2024 Bloomberg L.P.
