One of Monster Beverage's most senior executives has taken a sabbatical until the end of next month and will return in the New Year in a reduced role, the company has announced.
//i2.aroq.com/1/monster_0.jpgIn a filing last week, the energy drinks producer said that Mark Hall, president of the Monster Beverage Division, has taken a "leave of absence" with immediate effect. He will return in January as Monster's chief brand officer on a salary of US$250,000. According to Forbes, Hall's salary in 2011 was $370,000.
Hall, who has been with the company for 16 years, has agreed to serve on the company's board for at least a year.
The filing also revealed details of a non-compete clause in Hall's contract. The agreement “includes covenants from Mr Hall not to compete with or solicit employees or contractors of Monster Energy or its affiliates during the term of Mr Hall’s employment and for a period of two years after termination of his employment or his service as a Board member, whichever occurs last”.
In a note on the change, CLSA analyst Caroline Levy described Hall as a “key player” in the evolution of the Monster brand. “We never like changes in a successful management team,” the note said.
Monster Beverage is set to report its Q3 figures on Thursday (7 November). In its first-half the company saw a 8.4% drop in net profits, while sales rose.
Sectors: HR – personnel, Soft drinks
