Starbucks hires Chipotle boss Brian Niccol as its next CEO as pressure from activist investors grows
SBUXStarbucks(SBUX) New York Post·2024-08-13 20:44

Starbucks announced Tuesday it will be replacing current CEO Laxman Narasimhan with Chipotle leader Brian Niccol after months of slowing sales, according to reports. The company said Niccol — who has been widely praised for a turnaround at Chipotle that has boosted the burrito chain’s stock by more than 50% over the past year — will assume the executive position on Sept. 9, according to The Wall Street Journal. The sudden change in leadership follows a 20% stock drop for Starbucks since Narasimhan took the ...