Monster Beverage Announces James Dinkins as New Director, Following Replacement in Designee of The Coca-Cola Company

Rhea-AI Summary

Monster Beverage Corporation (NASDAQ:MNST) announced the appointment of James L. Dinkins to its board, representing European Refreshments, a subsidiary of The Coca-Cola Company. Dinkins replaces Kathleen E. Ciaramello, who will step down effective November 1, 2020. Dinkins has a vast history with Coca-Cola, having held various high-level positions since 1988 and most recently serving as President of Coca-Cola North America until August 2020. This leadership change follows Coca-Cola's recent organizational restructuring.

Positive

• James L. Dinkins brings extensive experience from Coca-Cola, potentially strengthening Monster's strategic direction.
• Dinkins' appointment may enhance collaboration with Coca-Cola, benefiting Monster's brand and distribution.

Negative

• Transitioning board members may create some initial disruption in strategic continuity.

CORONA, Calif., Oct. 30, 2020 (GLOBE NEWSWIRE) -- Monster Beverage Corporation (NASDAQ:MNST) today announced that James L. Dinkins will join its board of directors as the new designee of European Refreshments (an indirect wholly-owned subsidiary of The Coca-Cola Company) to the Company’s board. Dinkins succeeds Kathleen E. Ciaramello, who will be leaving the Company’s board, effective November 1, 2020, having served since June 2019. This change is in connection with The Coca-Cola Company’s recently announced organizational changes.

Dinkins is currently Senior Vice President and Senior Advisor of The Coca-Cola Company, and has been a director of Coca-Cola FEMSA, S.A.B. de C.V. since 2020. He joined The Coca-Cola Company in 1988, serving in various account management, marketing and bottler franchise leadership roles with Coca-Cola USA until June 1999. He rejoined The Coca-Cola Company in August 2002 and held positions of increasing responsibility in Coca-Cola North America, including Chief Retail Sales Officer and President of the Minute Maid Business Unit.

Dinkins was appointed President of Coca-Cola North America and elected Senior Vice President of The Coca-Cola Company effective January 1, 2018 until August 2020. He also serves on the board of governors of the Boys & Girls Clubs of America and is a trustee of The University of Georgia Foundation and Morehouse College.

Monster Beverage Corporation
Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated subsidiaries. The Company’s subsidiaries develop and market energy drinks, including Monster Energy® energy drinks, Monster Energy Ultra® energy drinks, Monster MAXX® maximum strength energy drinks, Java Monster® non-carbonated coffee + energy drinks, Espresso Monster® non-carbonated espresso + energy drinks, Monster Rehab® non-carbonated tea + energy drinks, Muscle Monster® non-carbonated energy shakes, Monster Hydro® non-carbonated refreshment + energy drinks, Monster HydroSport Super Fuel® non-carbonated advanced hydration + energy drinks, Monster Dragon Tea® non-carbonated energy teas, Reign Total Body Fuel® high performance energy drinks, Reign Inferno® thermogenic fuel high performance energy drinks, NOS® energy drinks, Full Throttle® energy drinks, Burn® energy drinks, Samurai® energy drinks, Relentless® energy drinks, Mother® energy drinks, Play® and Power Play® (stylized) energy drinks, BU® energy drinks, Nalu® energy drinks, BPM® energy drinks, Gladiator® energy drinks, Ultra Energy® energy drinks, Live+® energy drinks, Predator® energy drinks and Fury® energy drinks. For more information, visit www.monsterbevcorp.com.

CONTACTS:

Rodney C. Sacks Chairman and Chief Executive Officer (951) 739-6200 Hilton H. Schlosberg Vice Chairman (951) 739-6200 Roger S. Pondel / Judy Lin Sfetcu PondelWilkinson Inc. (310) 279-5980

 

FAQ

Who is the new board member for Monster Beverage Corporation as of October 30, 2020?

James L. Dinkins has been appointed as the new board member representing European Refreshments.

Why is Kathleen E. Ciaramello leaving Monster Beverage's board?

Kathleen E. Ciaramello is stepping down due to organizational changes at The Coca-Cola Company.

What experience does James L. Dinkins bring to Monster Beverage Corporation?

Dinkins has extensive experience at Coca-Cola, having held various leadership roles since 1988, including President of Coca-Cola North America.

When will Kathleen E. Ciaramello officially leave the Monster board?

Kathleen E. Ciaramello will leave the board effective November 1, 2020.

What impact might James L. Dinkins' appointment have on Monster Beverage?

His appointment may enhance strategic direction and collaboration with Coca-Cola, benefiting Monster's operations.