FORT LAUDERDALE, Fla. – Sunburn Cannabis founder and Chief Executive Officer Brady Cobb has taken the helm at publicly traded Splash Beverage Group after the company appointed him interim CEO. Cobb has served on the company’s board of directors since February.
He takes the reins at a pivotal moment in Splash’s corporate trajectory as the company transitions from a focus on alcoholic beverages (primarily Chispo tequila) to focusing on regulated wellness products, cannabinoids, functional consumer products, and adjacent high-growth categories. In a prepared statement, Splash indicated it does not plan to abandon its legacy business interests.
Cobb sees the pivot as the vanguard of a new wave of financial opportunity for cannabis-related businesses following the recent rescheduling of medical cannabis.
“We believe Splash is uniquely positioned to capitalize on the ongoing evolution of the cannabinoid and wellness economy by identifying, partnering with, and supporting established brands across the hemp-derived CBD and, subject to applicable regulatory and exchange approvals, medical cannabis marketplaces,” he said. “[… W]e believe U.S. institutional investors and traditional capital sources are increasingly able to participate meaningfully in the sector for the first time, creating significant opportunities for scaled public market platforms with regulatory sophistication, operational discipline, and access to growth capital. With the U.S. cannabis market already estimated to exceed $38 billion annually and projected to continue expanding rapidly, we believe Splash can serve as a strategic bridge between emerging operators, institutional capital, and the public markets.”
Cobb brings to Splash a multidisciplinary background spanning public company leadership, law, government affairs, regulatory strategy, capital markets, and consumer brand development. Over the course of his career, he has founded, operated, and advised multiple platforms across cannabis, wellness, consumer packaged goods, and regulated industries. He is a Florida lawyer with experience in lobbying.
Cobb’s appointment came concurrently with the resignation of President and Chief Marketing Officer William Meissner, effective June 1. Meissner will assist with transition and advisory matters as a consultant after his departure.
The company’s founder, CEO, and chairman, Robert Nistico, resigned in November.
Splash (NYSE: SBEV) shares were down 10.86 percent Friday, from 24 cents to 21 cents per share, plunging on news of the pivot before leveling off. The New York Stock Exchange issued a formal noncompliance notice to the company on April 29, warning Splash its negative shareholder equity of -$15.3 million as of December 31, 2025, falls well short of the exchange’s minimum shareholder equity of $6 million. The company must submit a compliance plan to the NYSE by May 29, outlining how it intends to regain compliance with listing standards by January 29, 2027.
