AbsolutelyNew Selects Former Jamba Juice Executive as CFO

Oct. 6, 2009 - PRLog -- SAN FRANCISCO—AbsolutelyNew, Inc., the consumer goods company that partners with independent innovators to bring their best ideas to market, appointed veteran finance executive Joe O’Neill as its Chief Financial Officer (CFO).

O’Neill previously served as CFO at smoothie chain Jamba Juice, where he is best known for playing a hands-on role creating and implementing a financial strategy that enabled a 42% increase in the chain’s number of stores nationwide, from 2001-2005. Prior to that, he served as executive vice president and CFO of Color Spot Nurseries and ABT Building Products, both in the Kohlberg & Company portfolio.

The new CFO replaces Henry Lo, who will now head the company’s corporate development department and focus on enhancing AbsolutelyNew’s position and revenue in the end-to-end innovation process.

“Demand for new and innovative products is multiplying quickly as world markets improve. This management update puts us in a better position to expand and enhance revenue in the new economic climate,” said AbsolutelyNew’s CEO, Richard Donat.

“This is a win-win for AbsolutelyNew and the people and companies we serve. We’re pleased to welcome Joe with his strong track record of finance expertise, savvy and results. And we’re pleased to leverage Henry’s talent, passion and company understanding in new ways,” Donat added.

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AbsolutelyNew is the consumer goods company that partners with inventors to launch breakthrough products. The company’s Science+Technology Division also helps innovators launch new devices and technologies into businesses. Products in AbsolutelyNew’s portfolio span a range of categories and can be purchased in stores and catalogs, online and on TV. Headquartered in San Francisco, AbsolutelyNew is privately held with venture capital backing from Artiman Ventures. For more information, visit www.absolutelynew.com.