Rockstar Founder Russ Savage Builds Celsius Stake, Seeks CEO Role

What happened

Rockstar Energy founder Russ Savage has accumulated a roughly 4.7% stake in Celsius Holdings (NASDAQ: CELH) and is publicly calling for management changes, according to reports from CNBC, Reuters, and Seeking Alpha on August 7, 2026.

Savage told CNBC he controls more than 12 million shares of Celsius. He founded Rockstar in 2001 and sold it to PepsiCo for $3.85 billion in 2020. He is pushing to replace current leadership and take over as CEO himself.

The news comes a day after Celsius reported second-quarter earnings that missed Wall Street expectations. The company's namesake brand sales fell 11.6% year-over-year, according to a YouTube video that appears to discuss the results. Celsius shares had tumbled on the earnings miss, per Yahoo Finance and Seeking Alpha.

Celsius stock closed at $30.66 on August 7, down 3.01% from the previous close of $31.61. Earlier reports indicated the stock jumped 15% on Savage's stake disclosure before settling lower.

Why it matters

Savage's move is an activist-style challenge from a veteran of the energy drink industry. He built Rockstar into a major brand before selling it to PepsiCo, giving him credibility in the sector.

His calls for leadership change could force strategic shifts or management turnover at Celsius, which has seen its sales decline and its stock fall from higher levels.

The reports do not specify what changes Savage wants beyond replacing CEO John Fieldly and other executives, nor do they detail his plan for the company if he were to take control.

What this means

A 4.7% stake is significant but not controlling. It makes Savage one of Celsius's largest shareholders, giving him leverage to push for changes publicly and potentially through board nominations or a proxy fight.

The push to become CEO is unusual. Typically, activist investors seek board seats or influence strategy rather than directly seeking the top executive role. Savage's public campaign suggests he wants operational control, not just oversight.

Celsius is a maker of energy drinks and fitness-focused beverages, competing with brands like Red Bull and Monster. Its recent earnings miss and declining brand sales have weakened its stock, creating an opening for an outsider like Savage to press for change.

No SEC filing related to Savage's stake or his demands has been reported yet. Public companies and large shareholders are generally required to disclose stakes of 5% or more via a Schedule 13D or 13G filing with the SEC, but such a filing has not been mentioned in the sources.