Russ Savage, the billionaire founder of Rockstar Energy, has disclosed a significant new position in rival Celsius Holdings, acquiring 12 million shares that represent approximately 4.7% of the company.
Savage is simultaneously calling for the removal of Celsius's current chief executive, citing the firm's recent earnings disappointment as justification for a leadership overhaul.
The move marks a sharp escalation in the competitive dynamics of the energy drink sector, where Savage's Rockstar brand has long competed with Celsius for market share.
Celsius Holdings shares faced pressure following its latest quarterly results, which missed analyst expectations and highlighted slowing volume growth in key markets.
Savage's intervention suggests he views the current management team as unable to navigate these headwinds effectively.
By building a nearly 5% stake, Savage has crossed the threshold for mandatory disclosure in the United States, signaling a serious intent to influence corporate governance rather than merely speculating on the stock price.