Summary by Futu AI
Celsius Holdings, Inc. announced changes to its Board of Directors in a recent Form 8-K filing with the SEC. Jim Lee resigned from the Board on September 19, 2024, following his departure from PepsiCo, which had the right to designate one nominee to the Board as per an agreement. His resignation was not due to any disagreement with the company, and his seat will remain vacant until PepsiCo nominates a successor. On September 18, 2024, Hans Melotte was appointed as a director to fill a vacancy created by the departure of Alexandre Ruberti. Melotte, with over 30 years of experience in consumer goods and executive roles at Starbucks and Johnson & Johnson, also joined the Audit and Enterprise Risk Committee and Human Resources and Compensation Committee. His term will expire at the 2025 annual meeting of stockholders. Melotte's appointment was not based on any prior arrangements or understandings with other persons, and he has not been involved in any material transactions with the company exceeding $120,000 since the last fiscal year.