Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with the recently announced organizational changes by The
Coca-Cola Company ("TCCC"), TCCC has replaced Ms. Kathleen E. Ciaramello with
Mr. James L. Dinkins as the designee of European Refreshments ("ER"), an
indirect wholly owned subsidiary of TCCC, to the Board of Directors (the
"Board") of Monster Beverage Corporation (the "Company"), effective as of
November 1, 2020.
Ms. Ciaramello has been the ER designee to the Board since June 2019 and, on
October 26, 2020, Ms. Ciaramello informed the Company of her intention to resign
from Board, effective as of November 1, 2020. Ms. Ciaramello noted that her
resignation is not as a result of any disagreement with the Company, its
management, the Board or any committee of the Board.
Mr. Dinkins will be the new ER designee to the Board and, on October 28, 2020,
the Board elected Mr. Dinkins to serve as a director of the Company, effective
as of November 1, 2020. Mr. Dinkins will receive customary fees and equity
awards from the Company for serving as a director in accordance with the
Company's non-employee director compensation program.
Additional information on Mr. Dinkins is provided below:
James L. Dinkins-Senior Vice President and Senior Advisor of TCCC. Director of
Coca-Cola FEMSA, S.A.B. de C.V. since 2020. Mr. Dinkins joined TCCC in 1988,
serving in various account management, marketing and bottler franchise
leadership roles with Coca-Cola USA until June 1999. He rejoined TCCC 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. Mr. Dinkins was appointed President of Coca-Cola North America and elected
Senior Vice President of TCCC effective January 1, 2018 until August 2020. Mr.
Dinkins 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. Mr. Dinkins has substantial business and leadership experience in the
A copy of the Company's press release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
99.1 Press Release dated October 30, 2020.
Exhibit The cover page from this Current Report on Form 8-K, formatted in iXBRL
104 (Inline eXtensible Business Reporting Language).
© Edgar Online, source Glimpses