Starbucks names Chipotle's Brian Niccol as CEO amid activist pressure

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Starbucks names Chipotle's Brian Niccol as CEO amid activist pressure - Business Standard

Quick Summary:

Starbucks said Niccol will start in his new role on Sept.9 and that CFO Rachel Ruggeri will serve as interim CEO until that time.

Niccol has spearheaded the Chipotle burrito chain, which in its most recent quarter topped Wall Street estimates for quarterly results on strong demand.

Niccol replaces Laxman Narasimhan, who was tapped in 2022 from Lysol maker Reckitt to undertake a "reinvention" of the world's biggest coffee chain.