Monster Beverage’s long-time CFO to become co-CEO

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Monster Beverage Corp. said late Thursday that its board elected Hilton H. Schlosberg as co-chief executive officer alongside Rodney C. Sacks, who has been the CEO since 1990. Schlosberg has resigned as president, chief financial officer, and chief operating officer, the company said. Sacks will continue as board chairman and Schlosberg will continue as vice chair. Monster also said that the board elected Thomas J. Kelly as the next CFO. Schlosberg has been with Monster in senior executive roles for more than 30 years, and had been the CFO for more than 23 years, the company 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,” Sacks said in a statement. Monster shares rose 0.7% in the extended session Thursday after ending the regular trading day up 0.6%.
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