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Starbucks Appoints Chipotle Mexican Grill Veteran As New CEO, Stock Soars
Starbucks Corporation (NASDAQ:SBUX) shares are trading higher after the company announced that Brian Niccol, CEO and Chairman of Chipotle Mexican Grill, Inc. (NYSE:CMG), has been hired as Starbucks’ new Chairman and Chief Executive Officer, effective September 9.
Current CEO Laxman Narasimhan is stepping down from his role as CEO and as a director effective immediately, the company said.
Starbucks Chief Financial Officer Rachel Ruggeri will serve as interim CEO until that time.
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