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

Rockstar Energy founder Russ Savage has amassed 12 million shares of Celsius Holdings (CELH), representing approximately 4.7% of the energy drink maker, and is calling for the removal of the company's CEO following this week's earnings miss.

Savage, who built and sold Rockstar Energy, disclosed the stake to CNBC. The move comes immediately after Celsius disappointed investors with its latest quarterly results, though the article excerpt does not detail the specific revenue or earnings figures.

The billionaire beverage entrepreneur is now angling to take over as CEO himself, directly challenging current management. His 4.7% position gives him meaningful influence but falls short of control. Savage's track record includes growing Rockstar into a major energy drink brand before selling to PepsiCo.

The timing suggests Savage views the earnings stumble as validation that a leadership change is warranted. With nearly 5% of shares, he has sufficient standing to press the board publicly or potentially launch a proxy fight if the company resists.