BEVERLY HILLS, Calif., May 21, 2015 (GLOBE NEWSWIRE) -- Barfresh Food Group, Inc. (OTCQB:BRFH), a manufacturer of frozen, ready-to-blend beverages, today announced that Joseph S. Tesoriero has assumed the role of Chief Financial Officer effective May 18, 2015. He will succeed current Chief Financial Officer, Arnold Tinter, who will continue to serve as the Company's Secretary and a member of the Board of Directors.
Mr. Tesoriero brings over 30 years of experience in corporate finance leadership positions. Most recently, he served as a financial advisor to Dole Asia Holdings, Ltd. Pte, a Singapore based wholly owned subsidiary of Itochu Corporation of Japan. Prior to that, Mr. Tesoriero spent over eleven years at Dole Food Company where he served as Executive Vice President and Chief Financial Officer. Mr. Tesoriero has also held numerous leadership roles, including positions at Global Crossing, Coleman Camping Equipment, Revlon, and IBM.
Founder and CEO Riccardo Delle Coste stated, "Joe's thirty-plus years of financial leadership experience, including his experience as CFO of a multi-billion dollar global leader in the food industry, makes him an ideal fit for Barfresh. He brings significant skills to our corporate initiatives and I am confident that Barfresh will benefit from his knowledge and perspective as we continue to accelerate our distribution and execute on our strategy."
Mr. Delle Coste added, "Arnie's contributions have been incredibly instrumental to our company during his tenure as Chief Financial Officer, and we are very pleased that he will continue to serve on our Board of Directors."
"Barfresh is a unique and innovative company that is well positioned to capitalize on the rapidly growing demand for healthy beverages," said Tesoriero. "It is an exciting time for me to join the Barfresh management team, and I look forward to helping the Company capitalize on the many opportunities that lie ahead."
Mr. Tesoriero has served as an independent director of Smart & Final Stores, Inc. (NYSE:SFS) since July of 2014, where he is Chairman of the Audit Committee and a member of the Nominating and Governance Committee. He was most recently engaged as a financial advisor for Dole Asia Holdings, Ltd. Pte., a Singapore based wholly owned subsidiary of Itochu Corporation of Japan, from April 2013 to October 2013. Prior to this consulting engagement, Mr. Tesoriero served as Executive Vice Present and Chief Financial Officer of Dole Food Company, Inc., a producer, marketer, and distributor of fresh fruits, fresh vegetables, and packaged food products from February 2010 to April 2013, and as Vice President and Chief Financial Officer from August 2004 to February 2010 and Vice President of Tax from September 2002 to August 2004. Prior to joining Dole, Mr. Tesoriero was Senior Vice President of Tax of Global Crossing (1998-2002), Vice President of Tax of Coleman Camping Equipment (1997-1998), International Tax Attorney with Revlon Cosmetics (1989-1997), and Tax Attorney with IBM (1980-1988). Mr. Tesoriero began his career in 1978 as a Tax Associate with Haskins & Sells (now Deloitte Touche). Joe holds a B.S. in Accounting from Villanova University, a J.D. from New York Law School, and an LL.M. in Taxation from Boston University. He has been a member of the New York State Bar since 1978.
About Barfresh Food Group
Barfresh Food Group, Inc. (OTCQB:BRFH) is a developer, manufacturer and distributor of ready-to-blend beverages, including smoothies, shakes and frappes, primarily for restaurant chains in the quick serve restaurant and casual dining sectors. The company's proprietary, U.S. patent-pending system uses portion-controlled pre-packaged beverage ingredients that deliver freshly made smoothies that are quick, cost efficient and without waste. For more information, please visit www.barfresh.com/us.
Forward Looking Statements
Except for historical information herein, matters set forth in this press release are forward-looking within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements about the Company's commercial progress and future financial performance. These forward-looking statements are identified by the use of words such as "grow", "expand", "anticipate", "intend", "estimate", "believe", "expect", "plan", "should", "hypothetical", "potential", "forecast" and "project", among others. All statements, other than statements of historical fact, included in the press release that address activities, events or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the Company believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company and may not materialize. Investors are cautioned that any such statements are not guarantees of future performance. The contents of this release should be considered in conjunction with the warnings, risk factors and cautionary statements contained in the Company's recent filings with the Securities and Exchange Commission, including its Annual Report on Form 10K and Quarterly Report on Form 10Q. Furthermore, the Company does not intend, and is not obligated, to update publicly any forward-looking statements, except as required by law.
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