AG1 Makes CEO Change as Founder Chris Ashenden Steps Down
The vitamin-packed greens drink brand, recently valued at $1.2 billion, had been led by Ashenden since 2010
AG1, formerly Athletic Greens, has named Kat Cole as its new CEO to lead the nutrition company into its next growth phase, succeeding founder Chris Ashenden, who had served as AG1’s CEO since founding the greens powder brand in 2010.
Cole has served as AG1’s president and chief operating officer since 2021 and will continue to serve on the global nutrition company’s Board of Directors alongside Ashenden.
Since Cole joined AG1, the company has scaled its business operations, tripling the size of its team and developing an in-house research and development team.
Before AG1, Cole was president and chief operating officer of Focus Brands (now GoTo Foods), a restaurant holding company.
In a LinkedIn post referencing her new role as CEO of AG1, Cole wrote that her time at the nutrition company has been the most energizing experience of her career and applauded AG1 for providing a daily “drinkable multivitamin” for millions.
“My passion for health and wellness continues to grow, especially as a mom to two young kids wanting to age with strength, and I’m inspired by the impact AG1 has had on millions of people’s lives,” Cole wrote. “I’m honored and excited to be taking on the CEO role, and I look forward to building on Chris’s incredible vision and foundation with the AG1 team.”
Ashenden, a native of New Zealand, founded the greens drink company turned unicorn in 2010 and has served as its CEO since that time, helping AG1 secure a $1.2 billion valuation in 2022. Ashenden’s next move is unclear.
“Kat is a brilliant executive whose business acumen is matched only by her passion for our customers and mission, and there is no one better to lead AG1 through the next phase,” Ashenden said. “Since joining our team, she has been a true trusted partner and has effectively operated as co-CEO in everything but name. Her skilled leadership allowed me to gradually step back, and now after 15 years devoted to this mission, I’m ready and excited for the company’s next chapter of leadership.”
As consumers turn to wellness-supporting products in their pursuit of longevity and optimal health, AG1 is seeing green — cash, that is. The company confirmed to Bloomberg that it’s projected to do well over $600 million in revenue and be profitable this fiscal year.
Unlike other nutrition brands, AG1 has stuck with one namesake product, a greens powder that touts 75 healthy ingredients in either a 30-serving pouch or 30 convenient packets for those on the go. Consumers can opt for single purchases or a subscription format.
AG1 secured $115 million in new funding in 2022 led by Alpha Wave Ventures, which included participation from several investors, including Blue Nile founder Mark Vadon and longevity expert Dr. Peter Attia.
