Reported 2 months ago
Starbucks has announced Brian Niccol, CEO of Chipotle since 2018, as its new chairman and CEO, starting September 9. Niccol's appointment follows the departure of Starbucks' previous CEO Laxman Narasimhan. Following the news, Starbucks shares surged over 20%, while Chipotle’s stock dropped by more than 12%. The board lauded Niccol's leadership and experience, emphasizing the significance of his role at a critical time for Starbucks amid challenges and declining sales.
Source: YAHOO