THIS IS AN EQUITY COMPENSATION ROLE.
The Opportunity
TZG Partners is looking for a full-time entrepreneurial CEO to further grow FS USA, a young CPG startup in its US investments portfolio best known for its line of premium clean label refrigerated RTD boba beverages.
While FS’s current product focus is boba tea/juice, future market opportunity extends into other areas of new-style teas in RTD form, such as cold brew teas, fruit teas, and milk teas. These products are being popularized by the quick expansion of offline teashops across the US, and their RTD versions are still in nascent stages of development.
The Situation
TZG Partners is a trans-pacific investment firm founded by Stanford alumni with 22 years of experience launching and growing a portfolio of valuable CPG and retail food and beverage businesses.
As the principal investor, TZG began development of FS USA in 2022, as the North American expansion and sister company to FS China, also a TZG portfolio company launched a decade ago and currently the #1 chilled milk tea brand and #3 largest NFC fresh juice brand in the Chinese market.
FS USA was founded and has been led by TZG Managing Director Ben Tsen, its current part-time CEO, to market launch and retail distribution along the West Coast. It is time for an enterprising full-time leader to take the reins and navigate the young startup venture into subsequent growth stages.
Today, the FS USA startup team composes of a dozen multidisciplinary individuals passionate about FS’s potential to disrupt the RTD beverage category by—finally—establishing “boba” alongside other emergent subcategories such as kombucha, yerba mate, and horchata. These individuals are all equity co-owners of FS USA, contributing mostly part-time across various functions spanning R&D, supply chain, operations, marketing, and sales.
The Expectations
Taking the reins, the incoming CEO will be responsible for FS USA’s overall growth trajectory and P&L performance while managing a lean startup and its relationship with TZG.
As CEO, you will lead all aspects and functions of the young business, making decisions on directions, priorities, and investment of available resources. You will work on product development, supply chain, operations, marketing, sales, partnerships, HR, and finance. In a small lean startup team, you are expected to be hands-on with execution as needed, not above flexing down, up, or side-to-side alongside the existing team you inherit, manage, and grow to support FS USA’s mission and your specific vision for its future.
You will be compensated with a generous equity package, commensurate with that of a Co-Founder. There is no cash compensation or benefits package to start. You should be financially independent before applying for this high-risk, high-reward opportunity. Successful co-founders and CEOs of TZG portfolio companies have been well-compensated for their results.
The Process
Interested candidates, please send a cover letter and your resume to TZG Managing Director Ben Tsen at btsen@tzgpartners.com.
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