Rockstar Founder Russ Savage Targets Celsius Leadership After Stock Slide

Savage, who sold Rockstar to PepsiCo for over $4 billion in 2020, now controls more than 12 million Celsius shares, a position valued at approximately $300 million. Having spent the past year quietly advising the company on cost structures and marketing, he has shifted to an aggressive public stance, calling for the immediate termination of the CEO, COO, brand manager, and marketing manager.

The pressure on current leadership follows a significant miss on Wall Street expectations. Celsius reported earnings of 36 cents per share against an anticipated 43 cents, while revenue hit $817.9 million, falling short of the $870 million forecast. Net income for the quarter also dropped by more than 50% compared to the previous year.

Celsius Chairman and CEO John Fieldly attributed the shortfall to a deliberate pause in innovation and a product rationalization program designed to manage recent acquisitions, including Alani Nu and the North American rights to the Rockstar brand. Despite the market volatility, Fieldly defended the company’s trajectory, noting that Celsius currently accounts for one out of every five energy drinks sold in the United States.