Drinks Americas Holdings, Ltd. announced that on November 27, 2012, Richard Cabo resigned his positions as the Company's Chief Executive Officer, as well as his position serving on the company's board of directors. Effective November 27, 2012, Timothy J. Owens was appointed to serve as the Company's Chief Executive Officer and to serve as chairman of the company's board of directors. Timothy Owens has over 25 years acting as a financial consultant across various industries, such as real estate, electronics, biotech, and environmental.

Since 2009, Mr. Owens, through his consulting company, TJO & Associates Financial and Consulting Services, specialized in investment services for developing, buying, selling and leasing commercial and residential real estate.