Lloyd Sugarman, voluntarily resigned from his position as Chief Executive Officer of Soupman, Inc. after the Board of Directors determined, as a matter of "best practices" and good corporate governance, that the Chairman of the Board and Chief Executive Officer positions should be held by two separate individuals. As such, the company has begun a search for a new CEO with a strong business background in the food industry. Mr. Sugarman remains as the Chairman and a member of the Board of Directors of the company.