Starbucks’ interim chief executive cashed in more than $341,000 in company stock on news that the java giant tapped Chipotle’s CEO Brian Niccol to replace its embattled boss Laxman Narasimhan, security filings show.Rachel Ruggeri — the Seattle-based coffee chain’s chief financial officer who will be its interim CEO until Niccol officially takes the reins on Sept. 9 — sold 3,750 shares to bag a windfall of $341,850, according to a Securities Exchange Commission filing. 4 Rachel Ruggeri, who is Starbucks’ C ...

Key TakeawaysThe S&P 500 added 1.7% on Tuesday, Aug. 13, as data showing softer-than-expected gains in wholesale prices reinforced rate-cut expectations.Starbucks shares soared after the coffee giant announced it hired Chipotle CEO Brian Niccol as its new top executive. Shares of Chipotle tumbled.Baxter International shares moved lower after the medtech firm announced the sale of its kidney health unit. Major U.S. equities indexes jumped higher after the latest Producer Price Index (PPI) data showed a lower ...

Key TakeawaysStarbucks shares have had a rocky time in recent years, notably under former Chief Executive Officer Laxman Narasimhan, who was ousted Tuesday and will be replaced by Chipotle CEO Brian Niccol.Since going public in 1992, Starbucks has had five CEOs, with founder Howard Schultz taking the reins three times.Starbucks shares dropped 6% during Narasimhan's term of slightly more than a year. Previous CEOs also have weathered volatile stock performance. Starbucks (SBUX) shares have had a rocky time i ...

Key TakeawaysStarbucks and Chipotle each saw big moves in their stock prices Tuesday after the announcement that Chipotle CEO Brian Niccol is taking the top job at Starbucks.Baird analyst David Tarantino upgraded Starbucks stock after the news, while lowering his price target for Chipotle shares.Niccol will become CEO of Starbucks in September, with current CEO Laxman Narasimhan stepping down immediately. Tuesday's news that Chipotle (CMG) CEO Brian Niccol is leaving to take the same role at Starbucks (SBUX ...

A behemoth hedge fund intends to take an active role in working with Starbucks to get the coffee powerhouse back on track; should investors take this as a cue to buy shares?Starbucks (SBUX 23.25%), the iconic coffee juggernaut, has caught the attention of an elite hedge fund determined to revamp the faltering business. The fund, Elliott Management, is an investment industry whale. It acquires stakes in public companies and drives operational improvements in their businesses, making it an "activist" investor ...

LAS VEGAS, NV - MARCH 28: A Starbucks coffee shop on the Strip (Las Vegas Boulevard) in Las Vegas, ... [+] Nevada. (Photo by Robert Alexander/Getty Images)Getty ImagesStarbucks stock rose 21% and Chipotle shares fell 7.5% after the burrito-retailer’s CEO Brian Niccol departed to take over the coffee retail chain on September 9, according to CNBC.What a difference a CEO makes! The market capitalization impact of this leadership change totaled $24.2 billion on August 13 alone as Starbucks’ added $18.4 billion ...

Starbucks has suddenly replaced its chief executive after the company suffered a bigger-than-expected drop in sales.The coffee chain's board announced on Tuesday that Laxman Narasimhan had departed the firm "effective immediately". They said Brian Niccol - the boss of burrito chain Chipotle - would soon take his place.It comes following mounting pressure and speculation over the future of Mr Narasimhan, who had only been in the role for a year-and-a-half.Last month, the firm reported that global sales had f ...

In this articleSBUXBrian Niccol, CEO of ChipotleAnjali Sundaram | CNBCWall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decades-long Howard Schultz era.Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job in March 2023 after being handpicked by the former CEO Schultz. In its last two quarters, Starbucks reported same-store sales declines as its U.S. business flounder ...

Getting a proven leader in this industry sets Starbucks up for years of success.In this video, Motley Fool contributor Jason Hall breaks down how getting Brian Niccol from Chipotle (CMG -9.46%) as its CEO is a massive win for Starbucks (SBUX 20.55%), and why the stock is a buy now.*Stock prices used were from the morning of Aug. 13, 2024. The video was published on Aug. 13, 2024. ...

The coffee purveyor poached a superstar CEO to manage its turnaround.Shares of Starbucks (SBUX 20.61%) roared out of the gate on Tuesday, surging as much as 23.7%. As of 11:19 a.m. ET, the stock was still up 22.7%. At the same time, Chipotle Mexican Grill (CMG -9.70%) stock sank as much as 14.1% but was recently down 11.8%.The catalyst that sent these high-profile names in the restaurant industry in different directions was news that nobody saw coming -- that Starbucks had poached Chipotle's superstar leade ...