Starbucks Names Brian Niccol as CEO

Starbucks has appointed Brian Niccol, formerly CEO of Chipotle, as its new CEO, offering him a compensation package valued at up to $85 million, primarily linked to performance incentives. Following this announcement, Starbucks shares surged 25%, adding $21.4 billion to its market capitalization, while Chipotle's stock fell by 7.5%. Analysts are optimistic about Niccol's potential to replicate his successful turnaround strategies from Chipotle at Starbucks, particularly in enhancing marketing and operations. The appointment comes amid pressure from activist investors like Elliott Investment Management, who had pushed for leadership changes after declining sales at Starbucks. Overall, Niccol is regarded as a top restaurant CEO, with positive expectations for Starbucks' future under his leadership. Investors are hopeful that his expertise will drive significant improvements in Starbucks' performance and market position.