Starbucks Shockingly Moved on From Its New CEO. You'll Never Believe Who His Replacement Is.
SBUXStarbucks(SBUX) The Motley Fool·2024-08-13 22:51

Is this the company's first step to restoring lost luster to the brand?Early on Aug. 13 -- before I even started sipping my second cup of coffee -- Starbucks (SBUX 21.19%) shockingly announced that it hired Brian Niccol as its new CEO. Niccol has been CEO of Chipotle Mexican Grill (CMG -11.99%) since 2018. Shares of Starbucks soared on the news and I don't believe it's an overreaction in the least.Starbucks stock had been down roughly 40% from highs reached in 2021 and I (mostly) fault management. In Septem ...