Energy drink maker Guru is looking for a new boss. Guru CEO Carl Goyette is leaving his position. Here he is photographed at the company's head office in Montreal on March 11, 2025. (Photo: The Canadian Press / Christinne Muschi) Guru wants to bring new energy to its leadership, but the game plan will remain the same, assures Carl Goyette, who is stepping down as CEO. The energy drink producer announced Mr. Goyette's departure in a press release Wednesday after markets closed, at the same time as the publication of its quarterly results. The Montreal company is looking for a new boss "who has a proven track record of growing consumer brands that are deeply rooted in culture and present in multiple markets," Guru said in a press release. "Today's announcement marks an important step in Guru's development, but it doesn't change our objectives and priorities," says Mr. Goyette during a conference call Thursday to discuss third-quarter results. The change aims to "support the next chapter of growth," reiterates the company, which referred us to the press release. It was not possible to obtain immediate comment from Mr. Goyette, who was contacted in the morning. The businessman will remain a director and shareholder of the company. He is the third-largest shareholder with 6.35% of outstanding shares, according to financial data firm Refinitiv. He has had a career at Guru for 12 years and has led the company since 2020. Mr. Goyette believes he is passing the baton while the company is in a good position. "With our strengthened foundation in Canada, record momentum in our activities and significant potential still to come, Guru is entering a new chapter in its growth." In the interim, board chair Tyler Ricks will act as executive chair of the board. Chief Financial and Operating Officer Ingy Sarraf, as well as Patrick Charbonneau, who is promoted to Chief Revenue Officer, will handle the interim. Decline in margins. In the third quarter ended July 31, Guru's net income fell from $1.3 million to $500,000, due to a decline in its margins. Revenue, for its part, rose 10.3% to $11.5 million. The company recorded a gross margin of 61.9% during the period covering May, June and July, compared with 71.3% last year. Ms. Sarraf notes that exceptional items inflated last year's profitability, which would skew the comparison. Excluding these items, the 61.9% gross margin should compare with a margin of 65.9%. The decline is about four percentage points. "It's deliberate," insists the executive during the conference call with analysts. "It reflects higher selling and promotional expenses during the quarter, as well as customer characteristics, since new customers entail higher initial selling costs," explains Ms. Sarraf. Guru's stock was down $0.04, or 1.06%, at $3.74 on the Toronto Stock Exchange around noon. Stéphane Rolland, The Canadian Press

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