Rockstar Energy founder builds Celsius stake, wants to take over as CEO, CNBC reports

Celsius Holdings is facing pressure from Rockstar Energy founder Russ Savage, who has amassed a nearly 5% stake in the energy-drink maker and is calling for the replacement of its top leadership, CNBC reported on Friday.

Savage, who founded Rockstar in 2001 and sold the energy-drink brand to PepsiCo for $3.85 billion in 2020, now controls more than 12 million shares of Celsius, representing 4.7% of the company, he told CNBC.

PepsiCo raised its stake in Celsius last year, and put the latter in charge of its energy-drink portfolio in the U.S., consisting of its Celsius and Alani Nu brands, as well as PepsiCo's Rockstar Energy.

Savage also told CNBC he would be willing to take over as chief executive of Celsius, arguing that the company's current leadership had lost credibility with investors.

According to the report, Savage had been informally advising Celsius for more than a year on costs and marketing, but his recommendations were largely ignored.

"Members of our board and management team have engaged with Russ Savage many times over the past several years," a Celsius spokesperson told Reuters.

Savage could not be immediately reached for comment.

Following the report, shares of Celsius were up about 13% in afternoon trading on Friday, a day after they tumbled 18% after the company reported quarterly results that missed Wall Street estimates.

Celsius CEO John Fieldly said on Thursday that the company's sales were hurt by its ongoing "product-rationalization efforts" and a pause in innovation, as it focused on integrating Alani Nu, which it acquired in 2025, and Rockstar into its distribution network.

"We are a key growth driver for the energy category, and we are just beginning to unlock the full potential of our expanding portfolio," Fieldly said on a post-earnings call.