Rockstar Energy's Founder Acquires Celsius Stake, Eyes CEO Role
WHO:
CNBC - Russ Savage, founder of Rockstar Energy, controls more than 12 million shares of Celsius Holdings.
CNBC - John Fieldly is the Chairman and CEO of Celsius.
WHAT:
CNBC - Celsius shares are currently trading at about $27 per share after a sharp gain on Friday following CNBC's report of Savage's stake.
CNBC - Savage stated, "Once you lose shelf space, you're dead," emphasizing the competitive nature of the energy drink market.
CNBC - Savage mentioned, "The CEO has lost credibility with the investment community," regarding the current leadership at Celsius.
CNBC - Russ Savage has purchased millions of shares of Celsius Holdings, amounting to roughly 4.7% of the company.
CNBC - Savage's stake in Celsius is valued at about $300 million at current stock levels.
CNBC - Celsius shares fell 18% after the company's second-quarter earnings missed analyst expectations.
CNBC - Celsius reported earnings of 36 cents per share, below the expected 43 cents.
CNBC - Celsius revenue was $817.9 million, falling short of the $870 million expected.
CNBC - Net income attributable to common shareholders fell by more than half compared to the previous year's second quarter.
CNBC - Savage stated, "The CEO, the COO, the brand manager and the marketing manager all need to be fired."
CNBC - Savage said, "I'm publicly volunteering to do it," regarding the CEO position.
WHERE:
CNBC - Celsius markets its energy drinks primarily in the U.S. and Canada.
WHEN:
CNBC - Savage began acquiring his most recent stake in Celsius in March when the stock was in the low $30 range.
CNBC - Celsius acquired Alani Nu for $1.8 billion last year.
WHY:
CNBC - Savage believes that management missteps have led to the continued decline of Celsius shares, stating, "I didn't think they would wreck it this badly."
CNBC - Savage believes new leadership is needed at Celsius due to management missteps and a lack of accountability.
CNBC - The earnings miss was attributed to a product rationalization program and a deliberate pause in innovation.
HOW:
CNBC - Savage has been advising Celsius on changing its cost structure and marketing strategy for over a year.
(UPDATED August 7, 2026 21:36 UTC)
Celsius shares are currently trading at about $27 each after a significant increase on Friday, following a report about Savage's stake in the company. Savage emphasized the competitive nature of the energy drink market by stating, "Once you lose shelf space, you're dead," while also expressing concerns about the current leadership at Celsius, saying, "The CEO has lost credibility with the investment community." He believes management missteps have contributed to the ongoing decline of Celsius shares, remarking, "I didn't think they would wreck it this badly."
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(UPDATED August 7, 2026 19:56 UTC)
Russ Savage, the founder of Rockstar Energy, now controls over 12 million shares of Celsius Holdings, representing about 4.7% of the company and valued at approximately $300 million. Following a disappointing second-quarter earnings report, where Celsius posted earnings of 36 cents per share against an expected 43 cents, Savage has called for a complete overhaul of the company's leadership, even offering to step in as CEO himself. He believes that the current management has made significant missteps, contributing to a decline in net income and a drop in stock value, and has been advising Celsius on restructuring its cost and marketing strategies for over a year.