TLDR
- Rockstar Energy founder Russ Savage has built a 12 million share stake in Celsius Holdings, worth roughly $300 million, equal to about 4.7% of the company.
- Savage is publicly demanding the removal of the CEO, COO, brand manager, and marketing manager.
- He is putting himself forward as the next CEO.
- Celsius stock surged around 12% Friday, partially recovering from an 18% drop Thursday after a Q2 earnings miss.
- Celsius reported Q2 EPS of 36 cents versus the 43 cents expected, with revenue of $817.9 million missing the $870 million estimate.
Celsius Holdings stock jumped roughly 12% on Friday after CNBC reported that Russ Savage, founder of Rockstar Energy, has quietly built a 4.7% stake in the company and is now publicly calling for a leadership overhaul.
The stock currently trades around $27 per share after Friday’s gain, clawing back some ground following an 18% plunge on Thursday.
That drop came after Celsius posted Q2 earnings of 36 cents per share, well below the 43 cents Wall Street had expected. Revenue came in at $817.9 million, missing estimates of $870 million. Net income fell by more than half compared to the same quarter last year.
Celsius jumps 15% as Rockstar founder seeks CEO ouster$CELH rose after CNBC reported Rockstar Energy founder Russ Savage built a 4.7% stake worth about $300M.
Savage wants management replaced following this week’s earnings miss and is putting himself forward as CEO. pic.twitter.com/uZ83ouPbyn
— Wall St Engine (@wallstengine) August 7, 2026
Savage told CNBC he controls more than 12 million Celsius shares, a position worth approximately $300 million at current levels. He started building the stake in March when the stock was trading in the low $30s.
“The CEO, the COO, the brand manager and the marketing manager all need to be fired,” Savage said in the interview.
He is not stopping at criticism. Savage is publicly volunteering to take over as CEO.
“I’m publicly volunteering to do it,” he said. “The CEO has lost credibility with the investment community.”
Savage founded Rockstar in 2001 and sold it to PepsiCo in 2020 for more than $3.85 billion. He said he built Rockstar by managing every detail personally, from sales and distribution to packaging and sponsorships, and argues Celsius needs the same kind of hands-on leadership.
He said he had been quietly advising Celsius on its cost structure and marketing strategy for over a year before going public with his criticism.
“I didn’t think they would wreck it this badly,” he said. “Now I’m trying to help fix it.”
What Management Said
On the earnings call, Celsius Chairman and CEO John Fieldly pointed to a product rationalization program and a deliberate pause in new product launches as reasons for the shortfall. He also cited the ongoing integration of Alani Nu, acquired last year for $1.8 billion, and the Rockstar brand in the U.S. and Canada, also acquired from Pepsi.
Fieldly acknowledged the company may have been too aggressive in cutting product lines to make room for newer ones. He said Celsius still accounts for 1 in every 5 energy drinks sold in the U.S.
Shelf Space Warning
Savage pushed back hard on that explanation, calling the loss of shelf space a serious problem.
“Once you lose shelf space, you’re dead,” he said. “The chains will give it to Red Bull or Monster.”
He argued Celsius has too many management layers, too much cost, and not enough accountability.
Celsius responded by saying it welcomes ideas from shareholders and confirmed its board and management have engaged with Savage multiple times over the past several years.
Celsius stock closed Thursday at around $24 before the Friday rebound to approximately $27.
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