Rockstar Energy Founder Builds 4.7% Stake in Celsius Holdings
Russ Savage disclosed a 12-million-share position in Celsius and is pushing to take over as the company's CEO.
Rockstar Energy founder Russ Savage revealed Tuesday that he has amassed approximately 12 million shares of Celsius Holdings, giving him a 4.7% stake in the energy drink company and setting the stage for a potential leadership battle. Savage made the disclosure directly to CNBC, signaling he intends to be more than a passive investor.
Savage is not content to sit on the sidelines. The energy drink veteran is actively pushing to take over as chief executive of Celsius, a move that would thrust the company's boardroom into turmoil and raise immediate questions about the direction of its strategy and brand positioning.
Read more Berkshire Hathaway Boosts Alphabet Stake by $17 Billion →
The play is notable given Savage's background. He built Rockstar Energy into a major force in the competitive energy drink market before PepsiCo acquired the brand for $3.85 billion in 2020, lending him credibility as an operator who understands the space from the ground up. His entry into Celsius comes as the brand faces intensifying competition from rivals including Monster and Red Bull.
Whether Celsius's current leadership will engage with Savage's ambitions or resist them remains to be seen. His roughly 4.7% ownership gives him meaningful leverage as a large shareholder, but securing the CEO role would require board approval or a more aggressive activist campaign. The situation puts the spotlight squarely on Celsius at a pivotal moment for the broader energy drink sector.
Continue reading at US Top News and Analysis
