CelsiusCEO of the company after its collapse Alex Mashinskyand company executives Oren BlonsteinHe talked about a recovery plan.
CEO Alex Mashinskyshared this plan with its employees at a meeting last week.
Celsius’s Recovery Plan Codename: Kelvin
Celsius, which filed for bankruptcy in July, is seeking an angle for a turnaround. Company CEO Alex Mashinsky shared the company’s turnaround plan with his employees. Mashinsky and another executive, Oren Blonstein, conveyed to their employees that they hope to rebuild the company.
The business model they are considering for the company is to store investors’ assets and charge transaction fees for certain transactions. They are considering naming this project as a unit of temperature, the Kelvin.
When CEO Mashinsky announced his plan, faced with skeptical questions from his employees, he replied:
“Pepsi has filed for bankruptcy twice, right? Did that make it taste worse? Delta has filed for bankruptcy. Aren’t we flying Delta just because it filed for bankruptcy?”
While Celsius is working on bailout plans, one of the company’s spokespersons said the company held internal meetings many times to prepare for possible scenarios.
