Royal Cup Coffee and Tea has named Chip Wann as its new president and CEO, effective immediately.
Wann, who was named last year as the company’s chief operating officer, is the first non-family leader for the company.
Former President and CEO Bill Smith III will become Director and Strategic Advisor and will remain an active member of the company’s board of directors, the company announced.
Wann joined Royal Cup in 2017 as chief financial officer. He previously served as the COO and CFO for Birmingham-based Mspark, and also held executive-level positions in the healthcare and insurance industries.
Board Chairman Bill Smith Jr. said Wann has successfully led the company on a “path of modernization.”
“His commitment to our customers, team, and product lines solidified our confidence in his ability to lead our team for the long term,” he said.
Royal Cup has been owned and operated by the Smith family since 1950 and employs more than 860 employees nationwide, including almost 400 in Alabama. Bill Smith III said he has sought out counsel and support from Wann on many key decisions.
“I could not be more supportive of this thoughtfully planned succession for Chip," Smith said, in a statement. “His sound and intelligent advice has played an important role in the factors that have driven our organization forward.”
Wann said Royal Cup is positioned well for growth.
“With the investments made by our team in our people, processes, and systems, I am confident in our ability to continue offering our customers the experience they have come to expect from us, while driving profitable growth for the company," Wann said.
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February 26, 2020 at 11:56PM
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Royal Cup Coffee names new president and CEO - AL.com
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