Market Overview

Tierra Nueva Names Former Coca-Cola Executive Patrick M. Worsham as Chief Financial Officer


Nueva Technologies
, the Miami-based global coffee technology and
manufacturing company, has named former long-time Coca-Cola executive Patrick
M. Worsham
Chief Financial Officer (CFO). Worsham is also partner
and CFO of Tampa, Fla.-based ProspEquity
Partners (PEP)
, and played a significant role in executing PEP's
acquisition of a majority stake in Tierra Nueva earlier this year.

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Patrick M. Worsham named Chief Financial Officer of Tierra Nueva Technologies, the global leader in  ...

Patrick M. Worsham named Chief Financial Officer of Tierra Nueva Technologies, the global leader in edible coffee. (Photo: Business Wire)

"Pat is one of the most respected senior executives in the beverage and
consumer packaged goods industry in the world. His knowledge, skills,
financial acumen, experience and relationships will help ensure that
Tierra Nueva reaches all of its business objectives and more," said David
G. Burke
, CEO of Tierra Nueva, the worldwide leader in Edible

Worsham served in numerous senior financial leadership positions during
his 20-year career with The Coca-Cola Company. As Senior Vice President
and CFO of Coca-Cola North America, he developed a multi-year,
billion-dollar co-investment program in cold drink sales equipment and a
daily sales reporting system, necessitating the cooperation of 100
independent bottlers throughout the United States.

As Coca-Cola's internal audit director, he authored the company's Code
of Business Conduct and administered the business ethics program,
reporting directly to the audit committee of the board of directors.
During his Coca-Cola career, Worsham also served on the boards of
directors of the French and German bottlers, led M&A activity exceeding
$1 billion, and was involved in (at that time) one of the largest IPOs
in U.S. history, taking the company's largest U.S. bottler public.

D. Ramonetti
, Chairman of the Board of Tierra Nueva, commented that
Worsham's extraordinary professional expertise in managing highly
complex financial structures supporting global operations of
multi-national business enterprises provides him, the CEO and the board
with confidence in Tierra Nueva's sound financial future.

"I'm really impressed by Pat's ability to connect to every level of the
company to enable and empower a transformative, highly positive
culture," said Ramonetti. "Pat's proven dedication to a remarkable duty
of care in all fiduciary matters allows me and the CEO the ability to
focus on the phenomenal growth ahead, while assuring all stakeholders
that this enterprise will flourish financially and exceed all of its
global objectives."

Worsham was recruited by Coca-Cola to direct the worldwide internal
audit function, and is credited with transforming this function into one
considered state-of-the-art and a primary source of financial leadership
talent for Coca-Cola globally. He rose to Vice President and Controller,
responsible for the management and external financial reporting
processes and systems, strategic planning processes, and operational and
capital budgeting for the world-wide operations.

"My passion is to continually identify and act upon opportunities to
make people, processes and systems more effective in adding value to the
enterprise and identifying how each individual can contribute to value
creation," Worsham said. "I'll continue to use my CPG experience and
network to add value to Tierra Nueva. I strongly believe in the power of
an effective team and worldwide relationships in creating win-win-win
results for Tierra Nueva, its business partners and our consumers."

Worsham has served on the Board of Advisors of the business schools at
the University of Illinois and Georgia State University. He was an
executive in residence at the University of Illinois, and currently
serves on the Board of Fellows at the University of Tampa. He is also a
past board member of the Georgia Cystic Fibrosis Foundation and a member
of the American Institute of CPAs and the Georgia Society of CPAs.


Under the leadership of Managing Partner and CEO
Christopher D. Ramonetti
, ProspEquity Partners acquired a majority
stake in Tierra Nueva Technologies in May, 2018. Tierra Nueva has
successfully expanded into whole bean coffee processing and
manufacturing, resulting in a variety of exciting products and
experiences using 100 percent of the coffee bean. While most companies
try to squeeze more out of each bean to maximize output, Tierra Nueva
developed the proprietary process of using the whole bean with no waste.
This process enables creation of a proprietary, stable coffee
concentrate that can be used as a branded ingredient for a variety of
large-scale applications, including frozen desserts, bakery,
confectionery and ready-to-drink products.

Tierra Nueva has product tested, piloted and nationally launched various
formats for branded and privately labeled Edible Coffee®, Coffee
, Coffee Spreads and coffee ingredient products. It employs
more than 80 at its 42,000-square-foot SQF3, kosher
and Halal-certified facility in Miami

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