Monster Beverage Announces Co-Chief Executive Officers
January 14 2021 - 4:00PM
Monster Beverage Corporation (NASDAQ:MNST) today announced that
Hilton H. Schlosberg was elected by the Board of Directors of the
Company (the “Board”) as Co-Chief Executive Officer of the Company.
Mr. Schlosberg will serve as Co-Chief Executive Officer together
with Mr. Rodney C. Sacks, who has served as the Chief Executive
Officer of the Company since 1990. Simultaneously with the
foregoing, Mr. Schlosberg resigned his positions as President,
Chief Financial Officer, Chief Operating Officer and Secretary of
the Company. Mr. Sacks will continue as Chairman of the Board and
Mr. Schlosberg will continue as Vice Chairman of the Board. In
addition, the Company also announced that Thomas J. Kelly was
elected by the Board as Chief Financial Officer of the Company,
succeeding Mr. Schlosberg.
Mr. Schlosberg has held senior leadership positions with the
Company for over 30 years, including as the Company’s Chief
Financial Officer for over 23 years, and has served as a co-leader
of the Company with Mr. Sacks. Mr. Kelly has been Executive Vice
President, Finance, and/or Controller and Secretary of Monster
Energy Company since 1992. Mr. Kelly is a Certified
Public Accountant (inactive) and has worked in the beverage
business for over 30 years.
Mr. Sacks, Chairman and Co-Chief Executive Officer, said, “For
decades, Hilton has been my business partner in running the
Company. Hilton and I have operated as co-leaders of the Company as
it has grown over the years.”
Mr. Sacks and Mr. Schlosberg said jointly, “We are pleased for
Tom as he steps into the position of Chief Financial Officer. Tom
has extensive experience from his many years at the Company, most
recently as Executive Vice President of Finance, and this is a
seamless transition for the Company.”
Monster Beverage CorporationBased
in Corona, California, Monster Beverage Corporation is a holding
company and conducts no operating business except through its
consolidated subsidiaries. The Company’s subsidiaries develop and
market energy drinks, including Monster Energy® energy drinks,
Monster Energy Ultra® energy drinks, Monster MAXX® maximum strength
energy drinks, Java Monster® non-carbonated coffee + energy drinks,
Espresso Monster® non-carbonated espresso + energy drinks, Monster
Rehab® non-carbonated tea + energy drinks, Muscle Monster®
non-carbonated energy shakes, Monster Hydro® non-carbonated
refreshment + energy drinks, Monster HydroSport Super Fuel®
non-carbonated advanced hydration + energy drinks, Monster Dragon
Tea® non-carbonated energy teas, Reign Total Body Fuel® high
performance energy drinks, Reign Inferno® thermogenic fuel high
performance energy drinks, NOS® energy drinks, Full Throttle®
energy drinks, Burn® energy drinks, Samurai® energy drinks,
Relentless® energy drinks, Mother® energy drinks, Play® and Power
Play® (stylized) energy drinks, BU® energy drinks, Nalu® energy
drinks, BPM® energy drinks, Gladiator® energy drinks, Ultra Energy®
energy drinks, Live+® energy drinks, Predator® energy drinks and
Fury® energy drinks. For more information, visit
www.monsterbevcorp.com.
CONTACTS: |
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Rodney C. SacksChairman and Co-Chief Executive Officer(951)
739-6200 |
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Hilton H. SchlosbergVice Chairman
and Co-Chief Executive Officer(951) 739-6200 |
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Roger S. Pondel / Judy Lin
SfetcuPondelWilkinson Inc.(310) 279-5980 |
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