Starbucks tapped Chipotle Mexican Grill's head Brian Niccol on Tuesday to lead the coffee giant known for its pricey lattes amid pressure from activist investors and declining sales in the U.S. and China.
Getting a proven leader in this industry sets Starbucks up for years of success.
Starbucks stock is surging Tuesday after the coffee chain named current head of Chipotle, Brian Niccol, as its next CEO. Here's what you need to know.
Starbucks hired veteran restaurant leader Brian Niccols to lead its turnaround. The CEO was wildly successful at Chipotle.
Starbucks announced a surprise CEO change Tuesday, picking Brian Niccol as its top executive. Starbucks has struggled lately with sluggish sales and operational issues.
Starbucks (NASDAQ: SBUX ) stock is heading higher on Tuesday after the company announced that Brian Niccol is taking over as chairman and CEO of the coffee chain. This will have Niccol replacing Laxman Narasimhan as the next CEO of Starbucks.
There are big leadership changes at both companies.
Starbucks SBUX analysts are mixed Tuesday on what the addition of Brian Niccol, previously CEO and Chairman of Chipotle Mexican Grill CMG, could mean for the coffee chain.
After an extended period of lackluster performance in the stock market amidst a boycott over its perceived stance on the conflict in Palestine, rising competition in China, and after contending for years with a nationwide drive to unionize stores, Starbucks (NASDAQ: SBUX) made an abrupt management change on August 13.
Starbucks is shockingly moving on from its CEO after just 17 months. The company has operational challenges and so it's bringing in a new CEO with the kind of track record that it needs.
Global coffeehouse chain and coffee supplier Starbucks Co. NASDAQ: SBUX made a bombshell announcement that it is replacing current CEO Laxman Narasimhan with the current CEO of Chipotle Mexican Grill Inc. NYSE: CMG Brian Niccol. The news caused Starbucks shares to surge by 22% in premarket trading, while Chipotle shares fell 13% as traders engaged in a pairs trade strategy.
Starbucks said Tuesday (Aug. 13) that it has appointed Chipotle Chairman and CEO Brian Niccol as CEO, effective Sept. 9, succeeding Laxman Narasimhan, who stepped down as CEO and director Tuesday.