Pharos Brands names former PepsiCo executive Matt Smith CEO

Pharos Brands International has tapped veteran beverage executive Matt Smith as president and CEO as the hemp-derived THC beverage maker expands distribution and positions itself for possible federal oversight changes. The Billings, Montana company says Smith will help scale a brand now sold in 401 retail locations across six states, up from 74 a year ago.

Why it matters: - Pharos Brands is scaling during a period of uncertainty for hemp-derived THC beverages. - The company is already operating in a distribution model that would fit much of the proposed federal framework now being debated in Congress. - The leadership change brings in a CEO with deep experience in beverage operations, brand marketing and acquisitions.

What happened: - Pharos Brands International named Matt Smith president and chief executive officer, effective Aug. 1. - Smith most recently spent 15 years at PepsiCo’s beverage division in operations, packaging development, senior brand marketing and new product roles. - Smith later led North American marketing for Del Monte Fresh Produce and worked in marketing and merchandising for HSN/Cornerstone Brands. - For the past 14 years, Smith has advised private equity firms on food and beverage acquisitions above $100 million. - Co-founder and board chair Rhyno Stinchfield said he wanted a leader with Smith’s beverage background for the company’s next phase. - Co-founder Mary Bernuth is moving from chief executive to executive board chair. - Bernuth will shift her attention to Be Wise Be Well, a nonprofit senior education organization she co-founded.

The details: - Pharos is now in 401 retail locations across six states, up from 74 a year earlier. - Sales rose 153.5% over that period. - In Florida, Pharos expanded from 20 ABC Fine Wine & Spirits locations to 127. - Jason Mohr, senior vice president of business development, led the retail expansion. - Mohr spent 15 years at Diageo and five years at Coca-Cola. - Pharos’s Mango flavor won Double Gold with a score of 97 at the 2026 Wine & Spirits Wholesalers of America Tasting Competition. - Pharos’s Black Cherry flavor won Gold at the same competition. - All four Pharos flavors medaled at the 2025 America’s Best Hemp THC Beverage Awards. - Blood Orange Lime was named Best Low-Dose RTD at those awards. - Pharos products are supplied through licensed alcohol distributors in each market it serves: Green Light Distributing in Florida, Crown Beverage in Alabama, Georgia and Tennessee, Keg1 in Missouri, and Capitol Husting in Wisconsin. - Pharos sells through on-premise accounts such as bars and restaurants, as well as off-premise accounts including grocery stores, chain retail, independent liquor stores and convenience stores. - The company’s hemp is grown and processed in the United States. - Pharos distributes exclusively through licensed alcohol wholesalers. - The company says those practices already match key elements of the proposed framework in Congress. - Smith said he invested his own money in the company before taking the job.

Between the lines: - The leadership move signals Pharos is leaning into a more mainstream beverage strategy, not a niche cannabis play. - Smith’s comment suggests the company sees seniors and veterans as a key growth audience in a category that has often targeted younger consumers. - The timing matters because the Senate passed a continuing resolution this week containing a temporary extension for most Section 781 provisions, while the House has not yet taken it up. - On July 22, Reps. Andy Barr and Angie Craig introduced the Lawful Hemp Protection Act, which would replace federal restrictions scheduled to take effect Nov. 12. - The proposal would create federal oversight by the Alcohol and Tobacco Tax and Trade Bureau, alcohol-style three-tier distribution, 21-and-over age verification and federal labeling standards. - Total Wine & More and the Wine & Spirits Wholesalers of America support the measure.

What’s next: - Pharos will continue operating under state laws that allow hemp-derived THC beverages. - The company is positioned to fit a federal alcohol-style framework if Congress advances the Lawful Hemp Protection Act. - Smith is expected to focus on further retail growth, distribution discipline and brand positioning. - Bernuth will focus on senior education work through Be Wise Be Well.

The bottom line: - Pharos is betting that an experienced beverage operator and an alcohol-style distribution model will help it grow while Washington decides the category’s future.