Welcome to the annual meeting for Monster Beverage Corporation. Our host for today's call is Paul Dechary, Executive Vice President and General Counsel. I will now turn the call over to your host, Mr. Dechary. You may begin, sir.
Good afternoon, everyone, and thank you for joining us today. I'm Paul Dechary, Executive Vice President and General Counsel at Monster Energy Company. Before we begin, please take note of our cautionary statement posted on the meeting site. The virtual meeting today will include forward-looking statements within the meaning of the U.S. federal securities laws and are based on currently available information. Management cautions that these statements are based on our current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside the control of the company, that may cause actual results to differ materially from forward-looking statements made during this virtual meeting.
Please refer to our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2024, and our subsequently filed quarterly report, including the sections contained therein entitled "Risk Factors" and "Forward-Looking Statements", for discussion on specific risks and uncertainties that may affect our performance. The company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise. I will be turning the proceedings over to Mr. Rodney Sacks, Chairman of the Board of Directors and Co-Chief Executive Officer of Monster Beverage Corporation, and Mr. Hilton Schlosberg, Vice Chairman of the Board of Directors and Co-Chief Executive Officer of Monster Beverage Corporation, but first wanted to discuss the format of today's virtual meeting.
We've designed this virtual meeting to provide stockholders with the same rights and opportunities to participate as they normally would have at an in-person meeting. We will conduct the annual meeting portion of the meeting first, during which we will address the three items of business detailed in the company's proxy statement. After the three proposals have been presented, we will conduct a question-and-answer session specifically relating to the proposals. Following the formal portion of the meeting, the company will provide a general business update that includes questions-and-answer sessions. The meeting agenda and the rules of conduct are available on the meeting website. We ask that you review these documents, and we appreciate your cooperation. Stockholders attending the virtual meeting can vote their shares online through the closing of the polls by logging into the meeting website as a stockholder and clicking the Vote Here button on the screen.
If you have previously voted by proxy and do not wish to change your vote, your vote will be cast as you previously instructed, and no further action is required. If you have logged into the meeting website, you may submit questions by typing them into the text box on your screen. If asking a question, please include your name and affiliation to the company. To ensure that we receive your questions before the Q&A session is closed, we encourage you to submit your questions early. Please note we may not be able to answer every question during the meeting due to time constraints. Finally, please note that today's meeting is being recorded. It is my pleasure to hand the meeting over to Mr. Sacks and Mr. Schlosberg.
Thank you. Good afternoon, ladies and gentlemen. My name is Rodney Sacks, and I'm Chairman of the Board of Directors and Co-Chief Executive Officer of Monster Beverage Corporation. It is our great pleasure to welcome you to this annual meeting of the stockholders of Monster Beverage Corporation. Also joining Mr. Schlosberg and myself for the virtual meeting today are all of the other directors of the company: Anna DeMelle, Tiffany Hall, Mark Vitegas, Mark Hall, William Douglas, Gene Jackson, James Jenkins, and Steve Pezzulla. Thomas J. Kelly, Chief Financial Officer, and Paul Dechary, Executive Vice President and General Counsel of Monster Energy Company, are on the webcast as well. Mr. Dechary will act as secretary of this meeting. Also on this webcast are representatives of Ernst & Young LLP, the company's independent registered public accounting firm.
Although Ernst & Young LLP has indicated that it does not wish to make a statement, its representatives are available to respond to appropriate questions from stockholders of the company during the question-and-answer period. Before we proceed further with the meeting, I would like to take a moment to acknowledge Gary Fayard, who did not stand for re-election at today's annual meeting of stockholders. We thank Mr. Fayard for his dedicated service as not only a director but also a member of each of our board committees during his ten years with the company.
The purpose of this meeting is to consider and act upon proposals to: one, elect ten directors to the board of directors of the company. Two, ratify the appointment of Ernst & Young LLP as independent registered public accounting firm of the company for the year ending December 31, 2025. Three, approve on a non-binding advisory basis the compensation of the company's named executive officers. Mr. Dechary will now report on the proof of the due calling of this meeting.
Thank you. I have a copy of the notice of annual meeting of stockholders dated April 25, 2025, setting forth the time, place, and purpose of the meeting. I also have an affidavit of an employee of Broadridge Financial Solutions showing that on April 25, 2025, Broadridge caused to be mailed a copy of the notice of internet availability of proxy materials to each stockholder of record on the company on the record date. In addition, I have a complete list compiled by Equiniti Trust Company, the company's transfer agent, of the stockholders of the company as of the close of business on the record date, April 21, 2025.
Thank you. A copy of the notice of annual meeting of stockholders and affidavit of mailing will be placed with the records of the company as part of the minutes of the meeting, and the list of stockholders will also be filed with the records of the company. Thomas Kelly has been appointed as Inspector of Election with respect to the conduct of the voting at this meeting. He has executed his oath of office and given the oath to me. The oath will be filed with the minutes of the meeting. Mr. Kelly has informed me that a quorum is present, so I declare the meeting duly and lawfully convened, and the polls are therefore now open. We will close the polls after the proposals have been presented. The next item on the meeting's agenda is Proposal One, the election of directors.
The nominees, as set forth in the proxy statement, are Hilton Schlosberg, Mark Hall, Anna DeMelle, James Jenkins, William Douglas, Tiffany Hall, Gene Jackson, Stephen Pezzulla, Mark Vitegas, and me. Certain information regarding the nominees can be found in the proxy statement. The board of directors of the company recommends I vote for each of the nominees. The second item is Proposal Two, the ratification of the selection of Ernst & Young LLP as independent registered public accounting firm of the company for the fiscal year ending December 31, 2025. The board of directors recommends I vote for ratification of the selection of Ernst & Young as independent registered public accounting firm of the company for the fiscal year ending December 31, 2025. The third item is Proposal Three, approval on a non-binding advisory basis of the compensation of the company's named executive officers.
The board of directors recommends I vote for, on a non-binding advisory basis, the compensation of the company's named executive officers described in the compensation discussion and analysis, the summary compensation table, and the related compensation tables and narrative in the proxy statement for the company's 2025 annual meeting of stockholders. We will now turn to the question-and-answer session for questions related to the three proposals we have just reviewed. I remind you that there will be an opportunity for general questions not related to the three proposals after the formal portion of the meeting has concluded. If any stockholder has a question on the three proposals for me or a member of the board or the company's independent registered public accounting firm, we would be happy to try to answer them at this time. Mr. Dechary, can you please present the first question?
Thank you, Mr. Chairman. At this time, I don't see any questions pertaining to the three proxy proposals.
Thank you. That will conclude this question-and-answer session for the items you have been asked to vote on at today's meeting. For those stockholders who have not yet voted, we are preparing to close the polls, and we'll wait only a few more moments to cast your vote using the Vote Here button on the virtual meeting website. If you have previously voted, you don't need to take any further action. Right now, we'll briefly pause to allow for any final votes. Now that everyone has had the opportunity to vote, I declare the polls closed. I've received the preliminary voting results from the Inspector of Election. Please note the following vote is preliminary. If you voted today, your vote will be tallied and included in our final vote results, which will be reported on a Form 8-K within four business days.
The preliminary voting results show that with respect to Proposal One, the election of directors, all of the director nominees have been duly elected to serve until the 2026 annual meeting. With respect to Proposal Two, the selection of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2025, has been ratified by the affirmative vote of approximately 100% of the votes cast. With respect to Proposal Three, a non-binding advisory vote on the compensation of the company's named executive officers has been approved on an advisory basis by the affirmative vote of approximately 94% of the votes cast. I hereby request that the preliminary report of the Inspector of Election be filed with the minutes of this meeting. We have now concluded those matters specified in the notice of annual meeting of stockholders.
There being no further business to come before the meeting, I will entertain a motion to adjourn. Is there such a motion?
I move that the meeting be adjourned.
The formal portion of the meeting is now adjourned. We will now proceed to the business discussion portion of the meeting, which will be brief, as we had just had our earnings call last month. After our brief remarks, Hilton and I will answer some questions. As we had our first quarter conference call early last month, I do not propose an extensive business discussion. Monster Energy continues to solidify its relevance with core consumers, introducing relevant sponsorships, properties, and promotions across the globe. This summer features a major retail promotion around Monster Energy's Summer of Mayhem, featuring an on-pack promotion where consumers gather codes off Monster cans and turn them in for exclusive prizes. This includes branded vehicles, Monster merchandise, and VIP tickets to Monster events.
UFC and MMA continue to be at the core of our sports marketing efforts, with Center Octagon signage and the sponsorship of over 25-plus UFC athletes. We are covered on the track as well with our McLaren Formula One team, MotoGP, NASCAR, motocross, off-road, and drag racing. Call of Duty gaming returns later in the year with the rollout of Call of Duty Black Ops 7, as well as the sponsorship of multiple streamers worldwide. X Games will return this summer to Salt Lake City, Utah, and our Monster Extreme athletes will be there. Monster will be prominently featured on all broadcasts. We are continuing the sponsorship of Any Means Possible, one of the world's largest streaming and content groups, for our Bang brand.
NOS will be adding influencers in the DIY space, along with continued sponsorship of our core NOS properties in Dirt Racing and NASCAR with Ricky Stenhouse Jr. Rain will add current and retired NFL athletes onto its roster of fitness ambassadors, while Rainstorm has added multi-platinum recording artist Maren Morris to its roster of influencers and ambassadors. In the United States, we launched a number of new products in the first quarter, which we reported on last month. In addition, this fall, we are planning to launch two new full-sugar Monster flavors: Monster Electric Blue and Monster Orange Dreamcycle. In addition, we are planning to launch Bad Apple Juice Monster, which was first launched in select EMEA markets in 2024, and Ultra Wild Passion. In Mexico, we are launching Predator Wildberry in August, and in Brazil, we are launching Monster Rio Punch in September.
We will be launching various Monster, strategic brands, and Predator SKUs in additional markets in EMEA throughout the rest of 2025, including the major rollout of Lando Norris Zero Sugar, which has just launched in the Republic of Ireland and Northern Ireland, to another 32 countries, and Valentino Rossi Zero Sugar to 13 countries in the second half of 2025. The national rollout of Predator in all provinces of China is in process, and we continue to see sustained growth of Monster. In India, we are continuing the expansion of Predator PET in additional regions in 2025. We have a series of launches planned for the rest of the year across APAC. Notably, in the third quarter, we are planning to introduce Rainstorm in Japan to complement the Monster brand and bring new consumers to the category.
We launched Monster Aussie Lemonade in Australia in June and plan to do so in New Zealand in July. It is important to remind listeners that with respect to energy drinks, Nielsen data does not capture many of the channels in which we operate. We have several food service, on-premise customers, and other wholesalers and retailers, including Costco, Home Depot, and Lowe's, which are not measured by Nielsen. Online sales through Amazon and other e-commerce sites are also not measured by Nielsen. Furthermore, Nielsen reports sales to consumers, whereas we report on sales to our bottlers and direct customers. As a result, there will generally be a difference between Nielsen statistics and our sales.
According to the Nielsen report, for the 13 weeks through May 31, 2025, for all outlets combined, namely convenience, grocery, drug, mass merchandisers, sales in dollars in the energy drink category, including energy shots, increased by 12.5% versus the same period a year ago. Sales of the company's energy brands, including Bang, were up 7.9% in the 13-week period. Sales of Monster increased 10.1%. According to Nielsen, for the four weeks ended May 31, 2025, sales in dollars in the energy drink category in the convenience and gas channel, including energy shots, increased 10.6% over the same period the previous year. Sales of the company's energy brands, including Bang, increased 7.4% in the four-week period in the convenience and gas channel. Sales of Monster increased 9.3% over the same period versus the previous year.
According to Nielsen, for the four weeks ended May 31, 2025, the company's market share of the energy drink category in the convenience and gas channel, including energy shots, in dollars decreased from 36.6% to 35.5%, including Bang. Monster's share decreased from 28.7% a year ago to 28.3%. According to Nielsen, in the four weeks ended May 31, 2025, sales in dollars of the coffee plus energy drink category, which includes our Java Monster line in the convenience and gas channel, increased 0.7% versus the same period the previous year. Sales of Java Monster, including Monster Killer Brew, were 7.5% higher in the same period versus the previous year. Sales of Starbucks Energy were 11.3% lower. Java Monster's share of the coffee plus energy drink category for the four weeks ended May 31, 2025, was 61.5%, up 3.9 percentage points, while Starbucks Energy's share was 37%, down 5 percentage points.
According to Nielsen, in all measured channels in Canada, for the 12 weeks ended April 19, 2025, the energy drink category increased 10.1% in dollars. Sales of the company's energy drink brands increased 12.9% versus a year ago. The market share of the company's energy drink brands increased 1.0 percentage points to 40.8%. Monster sales increased 10.4%, and its market share remained at 35.9%. According to Nielsen, for all outlets combined in Mexico, the energy drink category increased 9.7% for the month of April 2025. Monster sales increased 17.6%. Monster's market share in value increased 2.1 percentage points to 31.2% against the comparable period the previous year. Sales of Predator increased 20.2%, and its market share increased 0.6 of a percentage point to 6.4%.
The Nielsen statistics for Mexico cover single months, which is a short period that may often be influenced materially, positively, and/or negatively, by sales in the Oxxo convenience chain, which dominates the market. In EMEA, the energy drink category, according to Nielsen, for our tracked markets for the recently reported 13-week period, which differ from country to country, grew at approximately 13.6% versus the same period last year on an FX- neutral basis, which includes growth of 6.4% in Western Europe and 10.8% in Eastern Europe. Of note, for the same period, the category in France grew 25.4%, in Great Britain 10.6%, in the Republic of Ireland 12.7%, in Italy 8.7%, in Poland 15%, in South Africa 17.3%, and in Spain 7.6%.
According to Nielsen, in the 13-week period ending April 27, 2025, Monster's retail market share in value, as compared to the same period the previous year, grew from 15.3% to 17.9% in Germany, from 34.5% to 36% in Greece, from 29.6% to 31.8% in Italy, and from 18.3% to 21.5% in Poland. According to Nielsen, in the 13-week period ending April 27, 2025, Monster's retail market share in value, as compared to the same period the previous year, declined from 19.6% to 18.1% in South Africa.
According to Nielsen, in the 13-week period ending April 20, 2025, Monster's retail market share in value, as compared to the same period the previous year, grew from 16.3% to 17.9% in Belgium, from 22.2% to 24.3% in the Czech Republic, from 27.2% to 28% in Denmark, from 32.4% to 33.7% in Great Britain, from 30.1% to 34% in the Republic of Ireland, from 6.7% to 12.4% in the Netherlands, from 32.4% to 37.5% in Norway, and from 14.3% to 14.9% in Sweden. According to Nielsen, in the 13-week period ending April 20, 2025, Monster's retail market share in value, as compared to the same period the previous year, declined from 33% to 27.6% in France and from 40.8% to 40.2% in Spain.
According to Nielsen, in the 13-week period ending March 2025, Predator's retail market share in value, as compared to the same period the previous year, grew from 9.3% to 11.6% in Egypt, from 35.2% to 42.4% in Kenya, and from 21.2% to 23.9% in Nigeria. In the latter, the energy drink category, according to Nielsen, for our tracked markets for the recently reported 13-week period, which differ from country to country, grew at approximately 17.8% versus the same period last year, FX neutral. This does not include Argentina and Chile. According to Nielsen, for all outlets combined in Brazil, the energy drink category increased 25.5% for the month of April 2025. Monster sales increased 21.5%. Monster's market share in value decreased 1.5 percentage points to 46.4% compared to April 2024. In Argentina, for the month of April 2025, Monster's market share in value decreased 5.4 percentage points to 52.2% compared to April 2024.
In Chile, for the month of April 2025, Monster's market share in value decreased 1.1 percentage points to 40.3%. Monster Energy remains the leading energy brand in value in Argentina, Brazil, and Chile. In APAC, the energy drink category, according to Nielsen and Intage for the recently reported 13-week period, which differ from country to country, grew at approximately 15% versus the same period last year on an FX neutral basis. According to Nielsen, for all outlets combined, in New Zealand, the energy drink category increased 14.8% for the four weeks ending May 11, 2025. Monster sales increased 20.9%. Monster's market share in value increased 0.8 percentage points to 15.7% against the comparable period the previous year. Sales of Mother decreased 1.1%, and its market share decreased 0.9 percentage points to 5.8%.
Sales of Live Plus decreased 0.5%, and its market share decreased 0.7 percentage points to 4.6%. According to Circana, for all outlets combined in Australia, the energy drink category increased 5.5% for the four weeks ending May 4, 2025. Monster's sales increased 19.1%. Monster's market share in value increased 2.8 percentage points to 23.8% against the comparable period the previous year. Sales of Mother decreased 13.7%, and its market share decreased 2 percentage points to 9.1%. According to Intage, in the convenience channel in Japan, the energy drink category increased 1.7% for the month of April 2025. Monster's sales decreased 1.3%. Monster's market share in value decreased 1.8 percentage points to 58.9% against the comparable period the previous year. According to Nielsen, all outlets combined in South Korea, the energy drink category increased 12.4% for the month of April 2025. Monster's sales increased 11.4%.
Monster's market share in value decreased 0.5 of a point to 54.1% against the comparable period the previous year. We again point out that certain market statistics that cover single months or four-week periods may often be materially influenced positively and/or negatively by promotions or other trading factors during those periods. I would now like to open the floor to any questions from shareholders. Mr. Dechary, could you please present the first question?
Thank you, Mr. Chairman. The first question comes from Dara Mohsenian at Morgan Stanley, and I'm just going to read the question verbatim. We've seen a strong pace of revenue growth recovery in the U.S. energy category year to date in 2025, despite broader macro concerns in the U.S. Can you detail the key factors behind the recovery and sustainability going forward of these drivers? Have you seen any signs of near-term U.S. volatility with an uncertain consumer, either in tracked or untracked channels?
Yeah, I'll answer that one. I think we should level set where we are. We participate i n of growth in 2024, with flat-to-up company and category and a strong re-acceleration in 2025, averaging low double-digit growth over the last four years. What is driving category share gains? I believe a number of factors. Number one, functionality for consumers. Number two, an affordable value proposition. Number three, image and lifestyle for consumers. Number four, diverse offerings that appeal to an increasingly broad and loyal consumer base.
Bringing it all back to Monster, our innovation has been strong. As we have previously mentioned, both on conference calls and today, we have a strong pipeline for the balance of the year and beyond. We offer a balance of full sugar and low to no-calorie energy drinks. We are also particularly pleased with the growth of the Ultra family, which we have seen growing at 20% plus. Lastly, we continue to work closely with our Coke distribution partners, who are executing effectively for us.
Thank you. Our next question comes from Bonnie Herzog at Goldman Sachs. Again, I'll just read the question verbatim. What has been driving the strong industry-wide scanner data of late? Where is the energy drink category sourcing share from? What are you seeing from younger consumers? Do they prefer energy drinks versus coffee? What's your category growth assumption this year?
All right, I'll understand that. I believe the energy category is sourcing growth from many, many diverse areas, including new consumers coming into the category, particularly female consumers generally, and more importantly, probably younger female consumers, through a broad range of different brands and softer offerings and a very wide and increasingly greater selection of flavors that are now available. More consumers are attracted by the functional benefits of the category and who historically may have been hesitant to consume energy drinks due to the more historical, more aggressive, male positioning of many of the brands. This has seen quite a bit of change over the last recent periods. Secondly, the continued decrease in the price differential between energy drinks and soft drinks, as well as other beverages, generally over the last few years.
The pricing of soft drinks and other beverages have increased over the last few years more in proportion than the pricing of energy drinks have, with the result that the wider historical price premium that energy drinks had has narrowed materially in recent times. Thirdly, I think that the energy drink category is sourcing consumers from other cold beverage drink categories, such as juice, coffee, soft drinks to a lesser extent, and even water. Interestingly, even in the coffee category, there seems to have been a trend where cold coffee beverages' sales have increased above hot beverages. With regard to your question on category growth assumption, all we can point to is the steady acceleration that we have seen in the category over the past few months.
I do want to remind listeners that we do not provide forward guidance, and so we are not going to comment further on this issue. Okay, thank you.
O ur next question comes from Chris Carey at Wells Fargo. You were more measured on gross margins in Q2 because of hedging timing. Can you talk about your strategy in protecting gross margins in general and how it's evolved over time, focusing on pricing, cost savings, revenue growth management, and whether there's been any shift?
Okay, to be clear, regarding gross margins, we spoke on our most recent call about increases in certain input costs, as well as our hedging strategy for aluminum and the Midwest premium, which, as you know, has increased significantly and even more so in the last few weeks, with a recent imposition of an additional 25% tariff on aluminum.
We do not expect the now increased tariff to have a material impact on our gross margins in the second quarter. However, as long as this new 50% tariff remains in place, we do expect a modest impact beginning the third quarter. Our November 2024 price increase has been well received and not having a material impact on volumes. Our revenue growth management team is focused on long-term value creation opportunities and trade spend optimization. We continue to execute our promotional strategy as it is successfully driving top-line revenue and volume growth. We continue to have a focus on cost savings through ongoing supply chain optimization and a more disciplined approach to purchasing. As previously mentioned, we continue to evaluate pricing opportunities in both our domestic and international markets. Our manufacturing plants are becoming more efficient as we increase production volumes. Thank you.
Our next question comes from Charlie Higgs at Redbird. What role does the alcohol brands division play in the company's overarching strategy? How does the company plan to balance restructuring initiatives to boost profitability in the alcohol brands division with the need to reinvest behind marketing to stimulate top-line growth?
Whilst our prime and main strategy is obviously to continue to focus on expanding and increasing sales in the energy drink category and to attract new users into that category, we are, at the end of the day, a beverage company. We are continually trying to look and find different avenues for future growth in other beverage categories. We see this as one potential area for us to expand into. We are also looking at other potential areas in the non-alcohol space.
We are in the midst of restructuring our alcohol brand division, focusing on reducing fixed overhead and input costs, stabilizing, and increasing sales. In this regard, I'd like to mention our upcoming launch of Blind Lemon, a new hard lemonade line, in the next few months to compete in the hard lemonade space. We believe that Blind Lemon will provide additional top-line growth to this division and are also looking at other opportunities, again, both in the alcoholic and non-alcoholic spaces for the division. It really is still a work in progress that we are engaged with.
Thank you. Our next question comes from Robert Ottenstein at Evercore ISI. Please give an update on the dual-brand price point strategy in China globally for both Predator and Monster.
Okay, that's a great question, with several people asking similar questions.
I first want to refer to our January presentation in New York City at our Investor Presentation, where we highlighted global data's expectations of high single-digit global energy drink category value growth through the end of the decade. Broadly, we see global growth, similar to the U.S., as reflecting increasing category awareness, driven in part by product functionality and rising per capita consumption in both developed and developing markets. We see growth as being driven by mainstream energy drinks as well as affordable energy, a key offering in markets with lower per capita income and important in expanding category usage and awareness. Consistent with this, Monster has a portfolio of offerings by category and geography, with Monster as the global mainstream brand, along with our strategic brands, and Predator and Fury as our affordable offerings, where there is consumer demand for an energy drink at a lower price point.
Affordable brands are currently distributed in approximately 35 markets, with planned expansion into additional markets. Just having a quick look at China, which is part of the question. As has been mentioned on prior calls, China is a very large energy drink market, and we remain optimistic about the long-term prospects for the Monster brand in China and are excited about Predator being rolled out throughout China in 2025. Drivers of growth over the last year or so have been the Monster brand resonating with consumers, in part reflecting increasing awareness and benefiting from our marketing sponsorship initiatives, with growth from existing distribution, new distribution, and innovation. Of course, the national rollout of Predator, where we see an opportunity in the more affordable energy drink category.
Thank you. We have time for one more question. This question comes from Broadwood Capital.
We are grateful for Rodney's many years of leadership at the company. We understand that he will remain involved not only through his continued board service but also in his capacity as an employee, focusing on the company's marketing, innovation, and legal matters. We are curious if you can provide more detail about Rodney's ongoing involvement with the company in an employee capacity. Will there be any change in his involvement in those three areas, or will he simply continue working in those areas as before while not working on other areas?
I suppose I should say that I have until now, as you've been involved in many areas, either to a lesser or greater extent. Hilton and I have been involved right throughout everywhere in the company. Going forward, my intention is to focus on overseeing marketing and innovation, which are parts of the business I really enjoy.
We have a strong marketing and innovation team, and I will continue to provide oversight and guidance to them and to work with them. The legal team, I work closely with our legal team, and where needed, I will be happy to continue to provide guidance. I'm available and will be available wherever really needed. Obviously, I am looking at spending some time on other things and establishing my own family office, but I don't intend to not be here at all, and I will be available. Where I can add value or be helpful, I will certainly be around and remain involved. Again, I think the areas that I can deliver the most benefit to the company are in the marketing and innovation and will continue to do so. Thank you.
Thank you. With that, I'll turn the call back to Rodney for his closing remarks.
On behalf of Monster, I would like to thank everyone for attending our virtual annual meeting and business update and for your continued interest in the company. We continue to believe in the company and our growth strategy and remain committed to continuing to innovate, develop, differentiate our brands, and expand the company both at home and abroad. We believe that we are well positioned in the beverage industry and continue to be optimistic about our total portfolio of beverages. We have a robust innovation pipeline for 2026 and beyond. As I step down from my position as co-CEO, I am happy that the company is in a healthy, good position, and the share price has been positive.
I think that I'm very proud to have been able to be part of the growth and the history of this company and growing and getting us to where we are today. I want to thank all of you for your support, both shareholders and analysts, and hopefully still have time and talk to you as I continue to stay on board as Chairman in a reduced role. Thank you very much for your attendance today.
The meeting has now concluded. Thank you for joining, and have a pleasant day.