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Posted 14 January, 2021

Monster Beverage Corp appointed new CEO

CEO Change detected for ticker Nasdaq:MNST in a 8-K filed on 14 January, 2021.


  On January 13, 2021, Mr. Hilton H. Schlosberg was elected by the Board of Directors (the "Board") of Monster Beverage Corporation (the "Company") as Co-Chief Executive Officer of the Company.  

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Overview of Monster Beverage Corp
Consumer Goods • Non-Alcoholic Beverages/Drinks
Monster Beverage Corp. is a holding company, which engages in the development, marketing, sale, and distribution of energy drink beverages and concentrates. It operates through the following segments: Monster Energy Drinks, Strategic Brands, and Other. The Monster Energy Drinks segment sells ready-to-drink packaged energy drinks to bottlers and full-service beverage distributors. The Strategic Brands segment sells concentrates and beverage bases to authorized bottling and canning operations. The Other segment consists of certain products sold by its subsidiary, American Fruits and Flavors LLC to independent third-party customers. The company was founded on April 25, 1990, and is headquartered in Corona, CA.
Market Cap
$53.9B
View Company Details
Monster Beverage Corp by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On January 13, 2021, Mr. Hilton H. Schlosberg was elected by the Board of Directors (the "Board") of Monster Beverage Corporation (the "Company") as Co-Chief Executive Officer of the Company. Mr. Schlosberg will serve as Co-Chief Executive Officer together with Mr. Rodney C. Sacks. 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. 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, on January 13, 2021, Mr. Thomas J. Kelly was elected by the Board as Chief Financial Officer of the Company, succeeding Mr. Schlosberg. 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.


Additional biographical and other information regarding Mr. Schlosberg, Mr. Sacks and Mr. Kelly required by Item 5.02(c) of Form 8-K is included in the Company's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 21, 2020, and such information is incorporated by reference into this Item 5.02(c).


A copy of the Company's press release is attached hereto as Exhibit 99.1.