Effective November 1, 2019, Matthew T. Sheehan was terminated as President and Chief Executive Officer of the Company. In connection with his termination, Mr. Sheehan resigned as a member of Primo Water Corporation's Board of Directors . On November 1, 2019, the company appointed its Executive Chairman, Billy D. Prim, to serve as Interim President and Chief Executive Officer, effective upon Mr. Sheehan's termination.

Mr. Prim founded the Company in 2004, has served on the Board since inception and has served as Executive Chairman since June 2017. Previously, Mr. Prim was the Company's Chairman and Chief Executive Officer. Mr. Prim will remain Executive Chairman of the Board.

Mr. Prim's current amended and restated employment agreement will remain in full force and effect.