Starbucks appoints Chipotle CEO Brian Niccol as new head, replacing Laxman Narasimhan
Starbucks shares rose 12% in premarket trading following the announcement of Brian Niccol's appointment as CEO, while Chipotle's stock fell by 10%. Niccol, who has been CEO of Chipotle since 2018, will take over from Laxman Narasimhan, who is stepping down amid challenging financial performance for Starbucks.