Starbucks replaces CEO Laxman Narasimhan with Chipotle CEO Brian Niccol
Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol. Shares of Starbucks rose 10% in premarket trading on the news, while Chipotle’s stock fell 10%. Narasimhan took over as chief executive in March 2023. The coffee giant’s performance has struggled this year, hurt by weak sales in the U.S. and China, …