Reported 2 months ago
Starbucks announced the hiring of Brian Niccol, the current CEO of Chipotle, to replace Laxman Narasimhan as CEO amid pressure from activist investors. Niccol is set to start on September 9, with Starbucks CFO Rachel Ruggeri serving as interim CEO during the transition. The announcement led to a significant rise in Starbucks shares while Chipotle's shares dropped.
Source: YAHOO