Celsius Holdings Appoints Israel Kontorovsky to the Company’s Board of Directors

Rhea-AI Summary

Celsius Holdings (NASDAQ: CELH) has appointed Israel Kontorovsky to its Board of Directors, where he will serve on the Audit and Enterprise Risk Committee. Kontorovsky, currently CFO of PepsiCo LatAm, was nominated by PepsiCo as its designee, replacing Jim Lee who departed in September 2024. With over 30 years of consumer packaged goods experience, Kontorovsky brings extensive international, financial, and operational expertise from leadership roles at PepsiCo, including Senior VP of Commercial Finance at PepsiCo Foods North America and CFO of Quaker Foods North America.

Positive

• Strategic appointment bringing 30+ years of CPG industry expertise
• Strengthens partnership with PepsiCo through executive representation
• Adds significant financial and operational experience to the board

Negative

• None.

Seasoned executive brings decades of financial and operational experience and deep consumer industry expertise

BOCA RATON, Fla.--(BUSINESS WIRE)-- Celsius Holdings, Inc., (Nasdaq: CELH), maker of CELSIUS^®, the premium lifestyle energy drink formulated to power active lifestyles with ESSENTIAL ENERGY™, today announced the appointment of Israel Kontorovsky to the company’s board of directors. Kontorovsky also will serve on the board’s Audit and Enterprise Risk Committee and was nominated by PepsiCo, Inc. to serve as its designee pursuant to an agreement with Celsius. Kontorovsky replaces former board member and PepsiCo designee, Jim Lee, who departed the board in September 2024 in connection with his resignation from PepsiCo.

“I am pleased to welcome Israel to our board of directors and look forward to benefiting from his expertise,” said John Fieldly, Chairman and CEO of Celsius. “Our partnership with PepsiCo remains strong, and we believe that Israel’s extensive international, financial and operational experience at some of the world’s leading CPG and beverage companies will support our vision to become the number one energy drink brand in the world.”

Kontorovsky brings to Celsius more than 30 years of consumer packaged goods experience and has a proven track record of driving growth domestically and internationally. He currently serves as the Chief Financial Officer of PepsiCo LatAm, and, since joining PepsiCo in 2000, he has held various leadership roles including Senior Vice President, Commercial Finance at PepsiCo Foods North America and Chief Financial Officer of Quaker Foods North America.

Forward-Looking Statements

This press release contains statements that are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Celsius Holdings’ future results of operations or financial position, or state other forward-looking information. You can identify these statements by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” “would,” “could,” “project,” “plan,” “potential,” “designed,” “seek,” “target,” and variations of these terms, the negatives of such terms and similar expressions. You should not rely on forward-looking statements because Celsius Holdings’ actual results may differ materially from those indicated by forward-looking statements as a result of a number of important factors. These factors include but are not limited to: the strategic investment by and long term partnership with PepsiCo, Inc.; management’s plans and objectives for international expansion and future operations globally; general economic and business conditions; our business strategy for expanding our presence in our industry; our expectations of revenue; operating costs and profitability; our expectations regarding our strategy and investments; our expectations regarding our business, including market opportunity, consumer demand and our competitive advantage; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations affecting our business; the Company’s ability to satisfy, in a timely manner, all Securities and Exchange Commission (the “SEC”) required filings and the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 and the rules and regulations adopted under that Section; and other risks and uncertainties discussed in the reports Celsius Holdings has filed previously with the SEC, such as its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date the statements were made. Celsius Holdings does not undertake any obligation to update forward-looking information, except to the extent required by applicable law.

About Celsius Holdings, Inc.

Celsius Holdings, Inc. (Nasdaq: CELH) is the maker of energy drink brand CELSIUS^®, a lifestyle energy drink born in fitness and a pioneer in the rapidly growing energy category. For more information, please visit www.celsiusholdingsinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241029032579/en/

Paul Wiseman

investorrelations@celsius.com

Source: Celsius Holdings, Inc.

FAQ

Who is the new board member appointed to Celsius Holdings (CELH)?

Israel Kontorovsky, currently CFO of PepsiCo LatAm, has been appointed to Celsius Holdings' Board of Directors and will serve on the Audit and Enterprise Risk Committee.

Who did Israel Kontorovsky replace on Celsius Holdings (CELH) board?

Kontorovsky replaced Jim Lee, who departed the board in September 2024 following his resignation from PepsiCo.

What experience does the new Celsius Holdings (CELH) board member bring?

Kontorovsky brings over 30 years of consumer packaged goods experience, with leadership roles including CFO of PepsiCo LatAm, Senior VP of Commercial Finance at PepsiCo Foods North America, and CFO of Quaker Foods North America.