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Seth Goldman
Chief Change Agent at Eat the Change, Co-Founder at PLNT Burger, Chair of the Board at Beyond Meat
Seth Goldman is a prominent entrepreneur known for his significant contributions to socially responsible business practices. He is the Chair of Tony's Mission Lock at Tony's Chocolonely, a role he assumed as part of a new governance structure introduced in June 2023 aimed at safeguarding the company's mission to eliminate child and illegal labor in the chocolate supply chain.
Background and Career
Goldman is the Founder of Honest Tea, a pioneering organic beverage company, and Eat the Change, which focuses on sustainable food practices. He also serves as the Chair of Beyond Meat, a company known for its plant-based meat products. His extensive experience in growing mission-driven companies under various shareholder structures positions him as a leader in the field of impact entrepreneurship.134
Role at Tony's Chocolonely
As the first chair of Tony's Mission Lock, Goldman oversees a legal mechanism designed to protect the company's mission indefinitely, regardless of changes in shareholder structure. This structure includes a "golden share," which grants him and two other Mission Guardians—Ikenna Azuike and Anne-Wil Dijkstra—the authority to prevent any alterations to the company's foundational mission and principles without their consent.124 The Mission Lock aims to ensure that Tony's Chocolonely remains committed to its ethical sourcing principles and social impact goals over the long term.35
Vision and Impact
Goldman has expressed his commitment to representing and safeguarding Tony's mission, emphasizing that he does not intend to be a shareholder in the company. This decision allows him to prioritize the company's ethical standards without conflict of interest. He believes that this governance model could serve as an inspiration for other companies seeking to secure their social missions permanently.34
Through his leadership, Goldman aims to create a robust framework that not only protects Tony’s mission but also sets a precedent for other impact-driven organizations.5
Highlights
The business you launch is rarely the one you succeed with. That’s certainly been the case with Eat the Change.
My co-founder, Chef Spike Mendelsohn, and I originally established our enterprise as a planet-friendly snack company. We started with mushroom jerky which was a fun and tasty product. Even though we quickly became a top three brand in the plant-based jerky category, the business was too small, and the margins too thin to make it a viable business. So we expanded the portfolio to include Cosmic Carrot Chews, an innovative and delicious way to make carrots more accessible, especially for the lunchbox. But as much as we love and believe in the idea of spreading organic vegetables, we have decided to discontinue Cosmic Carrots because our retailers weren’t seeing strong enough velocities.
Fortunately for us, Coca-Cola’s 2022 decision to discontinue Honest Tea, presented us with an unexpected opportunity to get back into the bottled tea business. We have now pivoted our focus to scaling Just Ice Tea, and the results have been rewarding. Our gross sales exceed $19 million in the last twelve months and the latest SPINS Natural Channel data reveals that Just Ice Tea has captured the largest market share in the Midwest/North Central for the 24 weeks ended July 14, 2024. We have more regions in our sights as we approach our two-year anniversary on the market.
Over the coming months, we will be shifting the identity of our organization from Eat the Change to Just Ice Tea. When our stockholders decided to invest in Eat the Change, they entrusted our team to capitalize on emerging opportunities in better-for-you-and-the-world food and beverage. Running a start-up is a bit like letting water flow down a hill – you can’t always control where the water chooses to go. If we had insisted on sticking with snacks and forgoing the tea opportunity, we would be out of business.
So we now find ourselves solely focused on beverages (for the moment). It’s a place we know well and are comfortable with. There are bound to be more twists and turns on our journey. We’re not afraid of failure – we just need to be able to recognize it and pivot to where the water is leading us.
#JUSTICETEA #HonestTea
Last week we completed a weeklong crew drive in the Hamptons of Long Island, NY. It’s one of the most influential markets for bottled iced tea – where brands like Snapple, then Arizona, and even Honest Tea gained their most ardent followers. When I launched Honest Tea in 1998, I couldn’t get anyone to distribute our teas in New York City so I would drive a van full of cases of tea from Bethesda a few times a month. I’d go store to store with a 40 lb canvas duffle bag giving out samples and a sales pitch. Once the van was empty, I would head home. If my sales exceeded the cost of my parking tickets, it was a productive trip.
In 1999 we started working with a gourmet distributor, then in 2000 with a soda distributor, and in 2001 we signed on with Big Geyser Inc., the strongest independent distributor in NYC. Almost every major beverage brand that has been built over the past two decades came through Big Geyser – Mistic, Nantucket Nectars Juice Company, Vitaminwater, Monster Energy, BODYARMOR Sports Nutrition, Essentia Water, and now Celsius Fitness Drink. It all started for Honest Tea when Barry Nalebuff and I met Geyser founder Hal “H” Irving at a trade show. H saw the potential of what we were building with Honest Tea. He told us in his gruff voice, “You’re on to something here.... it’s early but I like it. To build a brand in New York, you’ve got to sell it one bottle at a time. People aren’t going to buy cases until they buy bottles first.” Twenty-three years later, we are back with Big Geyser Inc. and we are starting to realize all the potential that H saw in our concept 24 years ago. We sent nearly half of our team (13 people) to the Hamptons to ride along with the Geyser sales reps. Everyone went store to store, selling in bottles and cans of Just Ice Tea, resetting shelves, putting up point-of-sale and thanking existing customers for their support. And just in case anyone thinks a week in the Hamptons sounds like a fancy excuse for a vacation, we were in the trade every day at 7:30 a.m. and stayed at the Holiday Inn Express off the highway in Riverhead. As H taught us when he started Big Geyser Inc. decades ago, there are no shortcuts to building a beverage brand.
Laurajean Light Cyndi Ireland Matthew Miloscia
