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Diving overview:
- Beverage company Liquid Death has appointed PepsiCo alumnus Ricky Khetarpaul as CFO and is seeking to expand into the $23 billion energy drinks market, the company said in a news release Tuesday. Khetarpaul has officially started in the position, the company confirmed to CFO Dive in an email.
- 20-year veteran of the food and beverage industry (most recently with kombucha brand Health-Ade) Ketarpol It will join fast-growing Los Angeles-based Liquid Death to drive further growth and enter new beverage categories. According to Tuesday’s announcement, Liquid Death has become “the fastest-growing ready-to-drink tea, outpacing category growth by 20x among the top 10 brands,” and plans to launch a “better-for-you” line of energy drinks in 2026.
- “It’s hard to find a company that blends creativity, irreverence and powerful performance like Liquid Death,” Khetarpaul said in an emailed statement to CFO Dive. “The team is just getting started, and I’m excited to help build on that incredible momentum.”
Dive Insights:
Khetarpaul takes over as CFO following the departure of former finance chief Karim Sadik-Khan, who left his position in April to take the top finance job at rival health drinks company Spindrift, according to a post on LinkedIn. It is said that he took office.
Before joining Liquid Death, Khetarpaul worked as finance director for Health-Ade, a kombucha company, according to his LinkedIn profile. He also held various executive positions at Sabra Dipping Company, a hummus manufacturer, including Global FP&A and Sales Finance Director for four years. His previous experience includes several roles including Senior Director of FP&A at Walgreens Boots Alliance, CFO for North America at Lavazza Coffee Corporation, and Director of Sales Finance at PepsiCo where he served for eight years.
The beverage company will leverage Khetarpaul’s experience as it prepares to enter the energy drinks market next year. This will represent the fourth beverage category, following water products, sparkling soda and iced tea, Food Dive, a CFO Dive sister publication, reported in July. The energy drink, branded “Liquid Death Sparking Energy”, is expected to be released in 2026 and will contain approximately 100 mg of caffeine. This is less than other brands that position their drinks as “better for you” while acting as stimulants.
As Liquid Death enters the energy drinks business, CEO and founder Mike Cessario expects continued growth with an “entertainment-first marketing strategy and world-class retail execution,” the company said in a release Tuesday. CFO Dive previously reported that the company had developed an irreverent, social media-oriented marketing approach to attract consumers, including launching a marketing campaign to give away retired fighter jets. In recent months, the company has taken several steps to attract new customers, including partnering with Fruity Pebbles to launch a new sparkling water flavor, announcing a new distribution deal with New York distributor Big Geyser, and securing a coveted Superbowl advertising slot.
CNBC reported in February that the company’s marketing efforts will generate $333 million in retail sales in 2024, compared to $263 million the previous year.
But as the company continues to explore new avenues and beverage categories, it also faces competition from rival brands. Last week, coffee company Death Wish Coffee filed a lawsuit against Liquid Death in a California court, alleging “a case of willful trademark infringement.”
The lawsuit seeks to prevent Liquid Death from launching a variety of coffee products that Death Wish Coffee claims would “confuse consumers, infringe on the DEATH WISH mark, and cause irreparable harm to Death Wish and its valued brands.” The complaint was filed in the U.S. District Court for the Central District of California.
“The infringing coffee products would replicate key elements of DEATH, Death Wish’s registered trademark,” the complaint states. “These will likely appear in the same retail stores and alongside Death Wish products in-store, where Death Wish sells both ready-to-drink canned coffee and other coffee beans and coffee products.”
According to the complaint, Death Wish Coffee alleges that, based on “information and belief,” Liquid Death plans to launch such a product “on or about” January 2026. Before the lawsuit, the coffee brand asked Liquid Death to “voluntarily refrain” from releasing the product, which Liquid Death claims it refused to do.
“Death Wish is clearly very nervous. Liquid Death may one day release ready-to-drink coffee. “We have no plans to launch an actual ready-to-drink coffee, but as a multi-category brand, we are always thinking about future innovations,” Liquid Death said in a statement to CFO Dive.
“We are excited to launch a better-for-you energy drink in January with a caffeine content similar to that of a cup of coffee (100 mg),” the company said in a statement. “In any case, we do not believe that any one brand can own the word ‘death.’ There are several death brands, including coffee.”
