Energy drink maker names executive CEO

John Fieldly has been Celsius Holdings’ interim leader since March 2017

Boca Raton-based energy drink company Celsius Holdings has named John Fieldly as its CEO.

Fieldly, 38, had been Celsius’ interim CEO as well as chief financial officer since March 2017.

The announcement was made Tuesday by William H. Milmoe, co-chairman of Celsius, who noted that under Fieldly’s leadership the company reported sales of $36.2 million in 2017, up 59 percent over $22.8 million in 2016.

He said Fieldly has expanded the Celsius product line with Heat, a line of trainer-grade fitness drinks.

Celsius also increased its North American sales by 92 percent during the fourth quarter, and has expanded its global footprint in Asia and Europe, Milmoe said.

“We credit a good portion of this to John’s vision, continuous innovation, operational expertise, and steadfastness in delivering quantifiable results,” he said.

Fieldly replaces Gerry David, who retired from the company last year.

In March, Celsius entered the drug-store market, distributing its Celsius Originals line of flavored drinks to 550 CVS stores.

While Celsius increased 2017 gross profit to $15.4 million, or 42.7 percent of revenue, the company recorded a 2017 net loss of $8.6 million compared with a net loss of $3.4 million in 2016. The company had increased costs for marketing and sales, warehouse costs and labor, due to its expansion, according to a filing with regulators.

Celsius has raised a total of $38 million in the past three years, including from new investors Horizons Ventures of Hong Kong, the company said.

Celsius, which was founded in 2004, was turned around with the help of investor Carl DeSantis. The South Florida entrepreneur previously built Rexall Sundown, a Boca Raton maker of vitamins and nutritional supplements that eventually was acquired by Nature’s Bounty.

Last year, Celsius began trading its stock on Nasdaq. Celsius’ stock has traded in a range of $3.32 to $7 a share over the past 52 weeks.

Fieldly has expanded the Celsius product line with Heat, a line of trainer-grade fitness drinks.

COURTESY PHOTOS John Fieldly replaces Gerry David as CEO of Boca Raton-based energy drink company Celsius Holdings. David retired from the company last year.