Starbucks Poaches Chipotle CEO Brian Niccol Amid Activist Pressure
SBUXStarbucks(SBUX) Investopedia·2024-08-13 21:40

Key TakeawaysStarbucks shares surged Tuesday after announcing the hiring of Chipotle CEO Brian Niccol to replace Laxman Narasimhan.Niccol will take the Starbucks job Sept. 9, and Chipotle COO Scott Boatwright will take over as interim CEO once Niccol departs.The move comes as Starbucks has faced pressure from activist investors Elliott Investment Management and Starboard Value, who reportedly had bought stakes and advocated for change. Starbucks (SBUX) shares jumped 13% higher before the opening bell Tuesda ...