CORONA, CALIF. — Hilton H. Schlosberg has been elected co-chief executive officer of Monster Beverage Corp. by the company’s board of directors. Mr. Schlosberg joins Rodney C. Sacks, who has been CEO since 1990.
A longtime veteran of the company, Mr. Schlosberg most recently was president, chief financial officer, chief operating officer and secretary. He will continue as vice chairman of the board.
Mr. Schlosberg and Mr. Sacks led a consortium that in 1990 acquired Hansen Natural Corp. and later acquired Hansen’s Natural Soda and Apple Juice. Hansen’s Natural launched the Monster brand energy drink in 2002 and changed the company’s name to Monster Beverage Corp. in 2012.
“For decades, Hilton has been my business partner in running the company,” said Mr. Sacks, who also will continue as chairman of the company. “Hilton and I have operated as co-leaders of the company as it has grown over the years.”
Succeeding Mr. Schlosberg as CFO will be Thomas J. Kelly. Mr. Kelly has been executive vice president, finance, and/or controller and secretary of Monster Energy since 1992. Prior to Monster he was a controller of Stapleton-Spence Packing Co. He is a certified public accountant and has worked in the beverage business for over 30 years.
“We are pleased for Tom as he steps into the position of chief financial officer,” Mr. Sacks and Mr. Schlosberg said. “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.”