The billionaire founder of Rockstar Energy, Russ Savage, called for a leadership overhaul at Celsius.
- Savage told CNBC he now holds more than 12 million shares of CELH.
- He argued the company suffers from excessive management layers, high costs and insufficient accountability.
- CELH shares closed down 18% on Thursday after the company’s Q2 earnings disappointed investors.
Shares of Celsius Holdings (CELH) climbed around 12% on Friday, recovering partially from a steep sell-off a day earlier triggered by weaker-than-expected quarterly results, as Russ Savage, the billionaire founder of Rockstar Energy, disclosed a significant stake in the company.
The rebound put the stock on track to clock its best day since August 2025.
Russ Volunteers For CEO Position
Russ called for a leadership overhaul, including his own appointment as chief executive, CNBC reported.
Savage told CNBC he now holds more than 12 million shares, equal to about 4.7% of Celsius and valued at roughly $300 million at current prices. He has advised the firm for over a year on cost cuts and marketing shifts, but says those suggestions were largely dismissed. Following the second-quarter miss, he is demanding the removal of the CEO, chief operating officer, brand manager, and marketing manager.
“The CEO has lost credibility with the investment community,” Savage said, volunteering to step into the top role himself. He argued the company suffers from excessive management layers, high costs, and insufficient accountability, adding that any loss of retail shelf space in the competitive energy-drink category is nearly impossible to reverse.
CELH’s Q2 Earnings
Earlier this week, Celsius reported adjusted earnings of $0.36 per share, missing estimates, with revenue of $817.9 million up 10.6% year-over-year but falling short of the roughly $870 million consensus—the first revenue miss since early 2025. Net income more than halved. The flagship Celsius brand’s revenue dropped 11.7%, pressured by elevated promotional spending, inventory rebalancing, and softer club-channel sales. Alani Nu contributed $364.4 million, and Rockstar Energy $66.5 million.
Chairman and CEO John Fieldly attributed the shortfall to a deliberate product-line rationalization and temporary halt in new innovation while the company integrates two major acquisitions completed last year: Alani Nu for $1.8 billion and the U.S. and Canadian rights to the Rockstar brand from PepsiCo.
He noted the company maintained gross margins despite higher commodity costs and that the portfolio, with two billion-dollar brands, still accounts for roughly one in five U.S. energy drinks sold and remains a key category growth engine.
Savage, who launched Rockstar in 2001 and sold it to PepsiCo in 2020 for $3.85 billion, began accumulating his latest Celsius position in March when the stock traded in the low $30s.
How Did CELH Retail Traders React?
On Stocktwits, retail sentiment around CELH stock stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume stayed at ‘extremely high’ levels.
A Stocktwits user echoed Russ’s sentiment, saying current Celsius CEO John Fieldly must go.
Another user highlighted that Rockstar, the company Russ built, peaked about 15 years ago and then slid under his watch before he cashed out.
CELH stock has fallen 42% year-to-date.
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