Rockstar Energy founder Russ Savage has accumulated a stake of roughly 4.7% in Celsius Holdings and is seeking to take control of the energy drink maker as its next chief executive, sending the company’s shares sharply higher.
Savage now controls about 12 million shares of Celsius, according to CNBC, a position he says positions him to press for a leadership overhaul at the fast-growing beverage firm. The disclosure drove a notable rally in the stock during the session.
The move represents a bold gambit from a veteran of the energy drink industry, which Savage helped shape after founding Rockstar Energy, one of the category’s early challengers to established brands. His pursuit of the top job signals mounting activist pressure on Celsius as competition in the sector intensifies.
Celsius has grown rapidly in recent years, carving out a foothold in the fitness-oriented beverage market and expanding its retail footprint. The company’s shares have been volatile, reflecting both investor enthusiasm for its growth trajectory and questions over its long-term positioning against larger rivals.
A stake of the size Savage describes would make him a significant shareholder, though it falls short of a controlling position. Activist investors typically use such holdings to lobby boards for strategic changes, management shake-ups, or seats on the board.
It remains unclear whether Celsius’s board and existing leadership will engage with Savage’s ambitions. Companies facing activist campaigns often resist external bids for executive control, particularly when the challenger lacks a majority stake.
The energy drink market has become fiercely competitive, with established players and newer entrants battling for shelf space and brand loyalty among younger consumers. Consolidation and leadership contests have become increasingly common as firms jockey for advantage.
The surge in Celsius shares underscores how investors are weighing the prospect of a shake-up at the company. Similar campaigns at other firms have shown how a single high-profile shareholder can reshape corporate direction and spur governance battles.
Whether Savage’s bid gains traction will likely depend on the response from Celsius’s board, other major shareholders, and the company’s financial performance in the coming quarters. For now, the campaign adds a new layer of uncertainty to one of the beverage industry’s most closely watched growth stories.