Odwalla Elects New Chairman; Founder Will Serve as Consultant

Odwalla's founder, Greg Steltenpohl, has notified the board of directors of his resignation as chairman and as an Odwalla employee. Effective Nov. 18, 1998, the board elected Stephen Williamson as chairman, in addition to his current position as CEO.

Steltenpohl continues as a director and will also provide consulting services to the company for the next two years.

In a letter to the company, Steltenpohl said, ``I'm very proud of helping to build a brand based on both creativity and integrity. I think Odwalla's saga of success, precipitous fall and hard won recovery continue to make it a very powerful and uniquely positioned brand.''

Odwalla, Inc. is the nation's leading brand of all-natural, fresh squeezed and nutritionally fortified juices and smoothies, serving thousands of accounts coast to coast from its production facility in Dinuba, CA. The company also offers all-natural meal replacements, geothermal spring water and food bars.