To WhistlePig’s Employees and Investors:

We are pleased to announce that we have reached a settlement that ends the litigation in the Delaware Chancery Court.  The settlement brings new and exciting additions to WhistlePig’s leadership team.  We have also secured a governance structure that will allow us to put past differences behind us and continue the mission we all share:  to build the best ultra-premium rye whiskey brand in the world.

Roland van Bommel, who was one of the Company’s earliest investors and has served as a longstanding advisor to the Company, will be appointed as Operating Manager and Executive Chairman.  Mr. van Bommel brings to WhistlePig deep executive and governance experience in the spirits industry.  He previously served as CEO of William Grant & Sons, Ltd., and before that he served as CEO of Maxxium Worldwide BV and as a member of the Executive Board of Remy Cointreau SA. He is currently a Non-Executive Director of Asahi Holdings Australia and Stuart Alexander Pty Ltd.  Having been an advisor to the Company for many years, Mr. van Bommel is very familiar with our brand and our organization, and we fully expect that he will hit the ground running as he assumes his new responsibilities.

In addition, John Rhea, one of the Company’s founding investors, joins the WhistlePig Board.  Mr. Rhea is an accomplished businessman as well as a public servant.  Currently the Managing Partner of RHEAL Capital Management, LLC, and a Senior Advisor at the Boston Consulting Group, Mr. Rhea was previously Chairman and Chief Executive Officer of the New York City Housing Authority under Mayor Michael Bloomberg.  He has previously served as a Managing Director and Co-Head of the Global Consumer & Retail Group at Lehman Brothers and Managing Director & Co-Head of Consumer Banking for North America at JPMorgan Chase.  He also serves on the Board of the American Red Cross of Greater New York.

The remaining members of the Board will be Raj Bhakta, Christopher Evison, and Wilco Faessen.  We are pleased that as part of the agreement, Mr. Bhakta will continue to serve the Company as WhistlePig’s Founder and Chief Steward of the Brand.  In this role, he will continue to be responsible for the sales and marketing functions, focusing on selling and marketing our superb rye whiskey to the world.

As to WhistlePig Farm in Shoreham, Vermont, it remains the Company’s home and heart.  Ownership of the farm will soon be transferred to the Company on terms that we have agreed upon.  The Company will continue to invest in and grow its distilling and bottling operations on WhistlePig Farm.  We think this is great news for our employees and the continued success of the brand going forward.

Clearly, we are pleased to put the litigation behind us and to have reached an amicable settlement that serves the best interests of the Company and its investors, employees, suppliers, distributors—and customers.  This includes reaching agreement to work together to continue our extraordinary momentum in bringing our superb rye whiskey to market, to build our outstanding brand, and to promote the responsible enjoyment of our product.

 

Sincerely,

Roland van Bommel            Christopher Evison            Wilco Faessen            Raj P. Bhakta            John Rhea