By Connor Hart
Rodney Sacks plans to retire as co-chief executive of Monster Beverage, effective June 12, leaving Hilton Schlosberg to lead the energy-drink maker by himself.
Sacks will continue to serve as chairman of the company's board, subject to his re-election at the annual shareholder meetings in 2025 and 2026, Monster Beverage said Monday. In this role, Sacks, 75, will oversee the direction of the company's marketing, innovation and litigation efforts until his planned retirement as a company employee, effective Dec. 31, 2026.
During this period, Sacks will receive an annual base salary of $900,000, as well as target annual incentive award opportunities, long-term incentive award grants and certain additional benefits, according to a filing with the Securities and Exchange Commission.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 10, 2025 18:11 ET (22:11 GMT)
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