Jones Soda founder resigns from board

Jones Soda founder Peter van Stolk resigned from the company's board of directors April 3, saying in his resignation letter that he is "concerned with the current direction of the company," according to a securities filing.

Van Stolk also signed a new settlement agreement with Jones Soda that reduces his severance payments by about $100,000, to $350,000 altogether. The company also terminated van Stolk's non-competition and non-disparagement obligations.

Van Stolk stepped down as Jones' chairman and CEO in December 2007. He remained on its board, although he did not attend its 2008 annual shareholders' meeting in June.

Last month, the company promoted its chief operating officer, Joth Ricci, to CEO.

Here is van Stolk's resignation letter:

To the Board of Directors:

It has been amazing opportunity to serve the shareholders of Jones Soda for more then 15 years. The company that I founded on innovation, passion, and determination has achieved many notable successes and overcome numerous seemingly-insurmountable challenges during this period. These challenges were overcome by the employee's and stakeholders who cared about our company and our brand. They embodied the slogan "run with the little guy." It has been a privilege and a honor to work with such great people.

That being said I am concerned with current direction of the company, and believe that it is time for me to pursue other interests.

Therefore I tender my resignation effective immediately.

I would like to wish the best for the entire Jones Soda Co family and thank you all for your support from the start of this adventure.

Always,

Peter van Stolk

Melissa Allison: 206-464-3312 or mallison@seattletimes.com