Quick Overview
- Russ Savage, who founded Rockstar Energy, has accumulated 12 million shares of Celsius Holdings valued at approximately $300 million, representing a 4.7% ownership stake.
- The billionaire entrepreneur is openly advocating for the dismissal of the company’s CEO, COO, and top marketing executives.
- Savage has offered to assume the chief executive role himself.
- Shares of Celsius rallied approximately 12% on Friday, recovering partially from Thursday’s steep 18% decline triggered by weak quarterly results.
- The company’s Q2 earnings showed 36 cents per share versus analyst expectations of 43 cents, while revenue of $817.9 million fell short of the projected $870 million.
Shares of Celsius Holdings experienced a significant rally on Friday, climbing roughly 12% after news broke that Russ Savage, the entrepreneur behind Rockstar Energy, has accumulated a substantial 4.7% ownership position and is mounting a public campaign for executive changes.
Following Friday’s upward movement, shares are trading near $27, partially recovering losses from Thursday’s brutal 18% selloff.
Thursday’s decline followed the company’s disappointing second-quarter report, which revealed earnings of just 36 cents per share against analyst consensus of 43 cents. The top line also disappointed, with revenue reaching $817.9 million compared to expectations of $870 million. Perhaps most concerning, net income dropped more than 50% year-over-year.
Celsius jumps 15% as Rockstar founder seeks CEO ouster$CELH rose after CNBC reported Rockstar Energy founder Russ Savage built a 4.7% stake worth about $300M.
Savage wants management replaced following this weekās earnings miss and is putting himself forward as CEO. pic.twitter.com/uZ83ouPbyn
ā Wall St Engine (@wallstengine) August 7, 2026
In an interview with CNBC, Savage disclosed that he holds over 12 million shares of Celsius, representing a stake valued at roughly $300 million based on current trading prices. His accumulation began in March when shares were changing hands in the low-$30 range.
“The CEO, the COO, the brand manager and the marketing manager all need to be fired,” Savage stated during his televised appearance.
Beyond mere criticism, Savage has positioned himself as a potential solution, openly offering to step into the CEO position.
“I’m publicly volunteering to do it,” he declared. “The CEO has lost credibility with the investment community.”
After launching Rockstar in 2001, Savage eventually sold the energy drink brand to PepsiCo in a 2020 transaction valued at over $3.85 billion. Drawing from his experience, he emphasized that Rockstar’s success stemmed from his personal involvement in every aspect of operationsāfrom distribution networks and sales tactics to packaging design and sponsorship deals. According to Savage, Celsius desperately needs similar dedicated, detail-oriented leadership.
Before taking his concerns public, Savage revealed he had been privately consulting with Celsius for more than a year on matters including cost management and marketing initiatives.
“I didn’t think they would wreck it this badly,” he commented. “Now I’m trying to help fix it.”
Executive Response
During the quarterly earnings discussion, Celsius Chairman and CEO John Fieldly attributed the revenue shortfall to several strategic initiatives, including a product rationalization effort and a temporary halt on launching new products. He also highlighted ongoing challenges related to integrating Alani Nu, purchased last year for $1.8 billion, along with the Rockstar brand operations in the U.S. and Canadian markets, which were acquired from Pepsi.
Fieldly conceded that the company may have been overly aggressive in discontinuing existing product lines to accommodate newer offerings. Despite the challenges, he emphasized that Celsius maintains a commanding position, accounting for one out of every five energy drinks purchased in the United States.
Retail Distribution Concerns
Savage rejected management’s explanation, warning that losing retail shelf space poses an existential threat to the brand.
“Once you lose shelf space, you’re dead,” he warned. “The chains will give it to Red Bull or Monster.”
The activist investor criticized Celsius for maintaining excessive management bureaucracy, inflated costs, and insufficient executive accountability.
In a statement, Celsius acknowledged that it values input from all shareholders and confirmed that company leadership and board members have held multiple discussions with Savage spanning several years.
After closing near $24 on Thursday, Celsius stock rebounded to approximately $27 by Friday’s close.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
