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 ...

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Starbucks (NASDAQ:SBUX) stock is heading higher on Tuesday after the company announced that Brian Niccol is taking over as chairman and CEO of the coffee chain.This will have Niccol replacing Laxman Narasimhan as the next CEO of Starbucks. This is due to Narasimhan turning in his immediate resignation from the company.Starbucks won’t get Niccol as its new CEO until Sept. 9, 2024. While it waits, current SBUX Cheif Financial Officer Rachel Ruggeri will serve as the interim CEO of the company.SBUX stockholder ...

There are big leadership changes at both companies.In today's video, I will discuss Starbucks (SBUX 21.73%), Chipotle (CMG -11.49%), and recent announcements. Check out the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were from the trading day of Aug. 12, 2024. The video was published on Aug. 13, 2024. ...

Starbucks SBUX analysts are mixed Tuesday on what the addition of Brian Niccol, previously CEO and Chairman of Chipotle Mexican Grill CMG, could mean for the coffee chain. The Starbucks Analysts: Wedbush analyst Nick Setyan maintained a Neutral rating on Starbucks with an $80 price target.Baird analyst David Tarantino upgraded Starbucks from Neutral to Outperform and raised the price target from $81 to $110.Wedbush On Starbucks: Niccol's move from Chipotle to Starbucks might not be as straightforward as his ...

After an extended period of lackluster performance in the stock market amidst a boycott over its perceived stance on the conflict in Palestine, rising competition in China, and after contending for years with a nationwide drive to unionize stores, Starbucks (NASDAQ: SBUX) made an abrupt management change on August 13.The shares of the coffee giant quickly reacted to the news that Laxman Narasimhan, handpicked by Starbucks’ previous head, Howard Schultz, has stepped down and that the CEO of Chipotle (NYSE: C ...

Is this the company's first step to restoring lost luster to the brand?Early on Aug. 13 -- before I even started sipping my second cup of coffee -- Starbucks (SBUX 21.19%) shockingly announced that it hired Brian Niccol as its new CEO. Niccol has been CEO of Chipotle Mexican Grill (CMG -11.99%) since 2018. Shares of Starbucks soared on the news and I don't believe it's an overreaction in the least.Starbucks stock had been down roughly 40% from highs reached in 2021 and I (mostly) fault management. In Septem ...

Starbucks TodaySBUXStarbucks$94.20 +17.17 (+22.29%) 52-Week Range$71.55▼$107.66Dividend Yield2.42%P/E Ratio25.95Price Target$90.88Add to WatchlistGlobal coffeehouse chain and coffee supplier Starbucks Co. NASDAQ: SBUX made a bombshell announcement that it is replacing current CEO Laxman Narasimhan with the current CEO of Chipotle Mexican Grill Inc. NYSE: CMG Brian Niccol. The news caused Starbucks shares to surge by 22% in premarket trading, while Chipotle shares fell 13% as traders engaged in a pairs trade ...

Starbucks said Tuesday (Aug. 13) that it has appointed Chipotle Chairman and CEO Brian Niccol as CEO, effective Sept. 9, succeeding Laxman Narasimhan, who stepped down as CEO and director Tuesday.Niccol will leave Chipotle effective Aug. 31, at which time Chipotle Chief Operating Officer Scott Boatwright will become the restaurant company’s interim CEO, according to a Tuesday press release from Chipotle.Starbucks Chief Financial Officer Rachel Ruggeri will serve as interim CEO, and its board chair, Mellody ...

Key TakeawaysChipotle chief executive Brian Niccol will take over as CEO and chairman of Starbucks next month.The burrito giant's longtime CFO is also set to retire, though he will now stay on indefinitely in another role to aid the transition.Chipotle's leadership team has presided over a resurgent brand and a rising stock that recently split 50-for-1. Shares of Chipotle Mexican Grill (CMG) fell Tuesday on the news that the burrito giant would be replacing a heaping helping of the leadership that has helpe ...