Starbucks Stock Surges After Naming New CEO. Will This Move Pay Off in the Long Term for Investors?
Starbucks(SBUX) The Motley Fool·2024-08-19 21:30
Why this looks like a great move for Starbucks.Shares of Starbucks (SBUX 0.53%) soared nearly 25% after the coffee chain announced that it was replacing its CEO with Brian Niccol, the current CEO of Chipotle Mexican Grill (CMG -2.78%). Niccol will officially begin his new job on Sept. 9.While this move certainly has had a positive effect on the stock in the near term, let's look at why it should be good for investors over the long term as well.Turnaround neededIt's no secret that Starbucks had been struggli ...