Monster Beverage Names Co-CEOs Amid Leadership Shakeup

Ticker: MNST · Form: 8-K · Filed: 2024-06-14T00:00:00.000Z

Sentiment: neutral

Topics: leadership-change, executive-appointments, corporate-governance

Related Tickers: MNST

TL;DR

Monster Beverage just named Rodney Sacks and Hilton Schlosberg Co-CEOs, replacing Sacks as sole CEO. Big leadership changes happening.

AI Summary

Monster Beverage Corporation announced on June 13, 2024, that Rodney Sacks and Hilton Schlosberg have been appointed as Co-Chief Executive Officers, succeeding Rodney Sacks as sole CEO. This change is part of a broader leadership transition that also includes the appointment of a new Chief Financial Officer and other executive roles. The company also reported on matters submitted to a vote of security holders and filed financial statements and exhibits.

Why It Matters

This leadership transition at Monster Beverage could signal a new strategic direction or a shift in operational focus under the new Co-CEO structure.

Risk Assessment

Risk Level: medium — Leadership changes, especially at the CEO level, can introduce uncertainty and impact strategic execution, warranting a medium risk assessment.

Key Players & Entities

FAQ

Who has been appointed as the new Co-Chief Executive Officers of Monster Beverage Corporation?

Rodney Sacks and Hilton Schlosberg have been appointed as Co-Chief Executive Officers.

What is the effective date of the reported leadership changes?

The earliest event reported is dated June 13, 2024.

What specific items are being reported in this 8-K filing?

This filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, compensatory arrangements of certain officers, submission of matters to a vote of security holders, and financial statements and exhibits.

What was Rodney Sacks' previous role before becoming Co-CEO?

Rodney Sacks was previously the sole Chief Executive Officer.

What is Monster Beverage Corporation's state of incorporation?

Monster Beverage Corporation is incorporated in Delaware.

From the Filing

0001104659-24-071717.txt : 20240614 0001104659-24-071717.hdr.sgml : 20240614 20240614152902 ACCESSION NUMBER: 0001104659-24-071717 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240613 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Submission of Matters to a Vote of Security Holders ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240614 DATE AS OF CHANGE: 20240614 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Monster Beverage Corp CENTRAL INDEX KEY: 0000865752 STANDARD INDUSTRIAL CLASSIFICATION: BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 471809393 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-18761 FILM NUMBER: 241044449 BUSINESS ADDRESS: STREET 1: 1 MONSTER WAY CITY: CORONA STATE: CA ZIP: 92879 BUSINESS PHONE: 909-739-6200 MAIL ADDRESS: STREET 1: 1 MONSTER WAY CITY: CORONA STATE: CA ZIP: 92879 FORMER COMPANY: FORMER CONFORMED NAME: HANSEN NATURAL CORP DATE OF NAME CHANGE: 19930328 FORMER COMPANY: FORMER CONFORMED NAME: UNIPAC CORP DATE OF NAME CHANGE: 19600201 8-K 1 tm2417277d1_8k.htm FORM 8-K false 0000865752 0000865752 2024-06-13 2024-06-13 iso4217:USD xbrli:shares iso4217:USD xbrli:shares     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.  20549   FORM  8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): June 13, 2024   Monster Beverage Corporation (Exact name of registrant as specified in its charter)   Delaware (State or other jurisdiction of incorporation)   001-18761   47-1809393 (Commission File Number)   (IRS Employer Identification No.)   1 Monster Way Corona , California 92879 (Address of principal executive offices and zip code)   ( 951 ) 739 - 6200 (Registrant’s telephone number, including area code)   N/A (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):   ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:    Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock MNST Nasdaq Global Select Market   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-of this chapter).   Emerging growth company ¨   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. ¨           Item 5.02. Departure of Directors or Certain Officers; Election of Directors, Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.   On June 13, 2024, the Compensation Committee of the Bo

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