Starbucks names Chipotle's Brian Niccol as CEO; Chipotle stock tumbles
) shares surged more than 10% in premarket trading Tuesday after the company announced that Brian Niccol, the current Chairman and CEO of Chipotle Mexican Grill (NYSE:Niccol, who has led Chipotle since 2018, will officially assume his new role at Starbucks on September 9, 2024, leaving Starbucks, effective August 31.
Starbucks founder Howard Schultz also voiced his support for Niccol, noting his"leadership impact" and calling him"the leader Starbucks needs at a pivotal moment in its history." Chipotle's Board of Directors expressed confidence in their deep bench of leadership talent, ensuring a smooth transition and continued growth under Boatwright's leadership.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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