News > Starbucks shares surge 24% in a day on new CEO appointment
Starbucks shares surge 24% in a day on new CEO appointment
14/08/2024 10:28 AM | Click to read full article
Starbucks made a surprising leadership change, announcing the appointment of Brian Niccol, the CEO of Chipotle Mexican Grill, as its new CEO. This decision comes after Laxman Narasimhan's brief 18-month tenure, during which Starbucks faced declining sales and increasing pressure from activist investors. The move sent Starbucks' shares soaring, reflecting investor optimism about Niccol's potential to steer the company through its current challenges.
