BOCA RATON, FL – Celsius Holdings , Inc. (NASDAQ:CELH), a leading beverage company, announced today the appointment of Israel Kontorovsky as a new member of its Board of Directors, effective immediately. Kontorovsky, 55, fills the vacancy left by Jim Lee's departure and will also serve on the company's Audit and Enterprise Risk Committee. His term will extend until the 2025 annual meeting of stockholders.
Kontorovsky brings extensive experience to the role, currently serving as Chief Financial Officer of PepsiCo (NASDAQ:PEP) Latin America. His career at PepsiCo spans over two decades, with previous positions including SVP Commercial Finance at PepsiCo Foods North America and Chief Financial Officer of Quaker Foods North America. Kontorovsky has also held leadership roles in finance and operations across various locations, including Argentina, Dallas, and Chicago. He holds an Economics degree from UCLA and an MBA from the University of Miami.
His appointment to the Board of Celsius Holdings comes as part of an agreement with PepsiCo, which retains the right to designate one nominee to the Board. Kontorovsky will not receive compensation from Celsius Holdings for his service on the Board.
Celsius Holdings has confirmed that there are no other arrangements or understandings between Kontorovsky and any other persons related to his appointment. Additionally, there have been no transactions involving Kontorovsky that exceed the threshold of $120,000 since the last fiscal year, nor are there any proposed transactions of such magnitude.
InvestingPro Insights
As Celsius Holdings welcomes Israel Kontorovsky to its Board of Directors, investors might be interested in some key financial metrics and insights about the company. According to InvestingPro data, Celsius Holdings has a market capitalization of $7.23 billion and has shown impressive revenue growth of 56.5% over the last twelve months as of Q2 2024, reaching $1.49 billion. This strong growth trajectory aligns with the company's strategic moves, including high-profile appointments to its Board.
InvestingPro Tips highlight that Celsius Holdings is profitable over the last twelve months and analysts predict continued profitability this year. This financial health is further underscored by the company's strong balance sheet, with more cash than debt and liquid assets exceeding short-term obligations. These factors could provide the company with financial flexibility as it navigates its growth phase and integrates new leadership perspectives.
It's worth noting that while the company has shown strong historical performance, with high returns over the last five and ten years, recent stock price movements have been volatile. The stock has experienced a significant drop of 57.41% over the past six months, which could present both challenges and opportunities for the company and its investors.
For those seeking a more comprehensive analysis, InvestingPro offers 14 additional tips for Celsius Holdings, providing a deeper dive into the company's financial health and market position.
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