Key Takeaways
- Russ Savage, who founded Rockstar Energy, has accumulated 12 million shares of Celsius Holdings valued at approximately $300 million, representing about 4.7% ownership.
- Savage is publicly calling for the termination of the company’s CEO, COO, brand manager, and marketing manager.
- The Rockstar founder has volunteered to assume the CEO position himself.
- Shares of Celsius rallied approximately 12% on Friday, recovering a portion of Thursday’s steep 18% decline triggered by disappointing Q2 results.
- The company’s second quarter showed earnings per share of 36 cents compared to analyst expectations of 43 cents, while revenue of $817.9 million fell short of the $870 million consensus.
Shares of Celsius Holdings experienced a significant uptick of roughly 12% on Friday following a CNBC report revealing that Russ Savage, the entrepreneur behind Rockstar Energy, has discreetly accumulated a 4.7% ownership position and is now openly advocating for sweeping changes to the company’s executive leadership.
Following Friday’s rally, shares are trading near $27, representing a partial recovery from Thursday’s dramatic 18% selloff.
The previous day’s decline followed the company’s second quarter report, which showed earnings of 36 cents per shareāsignificantly below the Street’s 43-cent projection. Top-line results also disappointed, with revenue reaching $817.9 million versus expectations of $870 million. The company’s net income dropped more than 50% year-over-year.
Celsius jumps 15% as Rockstar founder seeks CEO ouster$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 his interview with CNBC, Savage disclosed ownership of more than 12 million shares in Celsius, representing roughly $300 million at today’s valuation. His position-building 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 the interview.
Beyond simply criticizing current leadership, Savage has put his own name forward as a replacement for the top job.
“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 divested the brand to PepsiCo in 2020 in a transaction valued at more than $3.85 billion. According to Savage, he personally oversaw every aspect of Rockstar’s operationsāfrom distribution networks and sales to packaging design and sponsorship dealsāand believes Celsius requires similar direct, detail-oriented leadership.
Prior to making his concerns public, Savage claims he spent more than a year quietly providing input to Celsius regarding cost management and marketing approaches.
“I didn’t think they would wreck it this badly,” he commented. “Now I’m trying to help fix it.”
Company’s Perspective
During the quarterly earnings discussion, Celsius Chairman and CEO John Fieldly attributed the disappointing performance to a product streamlining initiative and an intentional slowdown in launching new offerings. He also referenced ongoing work to integrate Alani Nu, purchased last year for $1.8 billion, as well as the Rockstar brand across U.S. and Canadian markets, which was also acquired from Pepsi.
Fieldly conceded the company may have been overly aggressive in discontinuing certain product lines to accommodate newer items. He emphasized that Celsius still represents 1 out of every 5 energy drinks purchased in the United States.
Distribution Concerns
Savage strongly contested management’s rationale, describing the erosion of retail placement as a critical threat.
“Once you lose shelf space, you’re dead,” he warned. “The chains will give it to Red Bull or Monster.”
In his view, Celsius suffers from excessive organizational hierarchy, bloated expenses, and insufficient accountability mechanisms.
The company issued a statement indicating it values input from its investor base and confirmed that both the board and management team have had multiple interactions with Savage spanning several years.
Celsius shares finished Thursday’s session around $24 before recovering to approximately $27 by Friday’s close.
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