and disgruntled investors, said Tuesday it’s replacing CEO Laxman Narasimhan with Brian Niccol, the chairman and CEO of Chipotle.
Elliott Investment Management, an activist firm with a significant stake in Starbucks, said it began talking about a change in leadership with Starbucks’ board two months ago. In a statement, the firm said Tuesday’s announcement is a “transformational step forward.” “Brian is a culture carrier who brings a wealth of experience and a proven track record of driving innovation and growth,” Hobson said in a statement. “Like all of us at Starbucks, he understands that a remarkable customer experience is rooted in an exceptional partner experience.”“I believe he is the leader Starbucks needs at a pivotal moment in its history. He has my respect and full support,” Schultz said in a statement.
Chipotle’s shares have risen more than 20% so far this year, although they fell 12% Tuesday morning on word of Niccol’s departure.Broncos stock report: Rookie wide receiver Troy Franklin's troubling start continues in preseason opener Keeler: Deion Sanders, 4-8 coach, gave a 3-9 news conference. Coach Prime showed CU Buffs fans a four-letter side they hadn't seen before: Fear
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