(Bloomberg) -- Starbucks Corp. has named Chipotle Mexican Grill Inc. Chief Executive Officer Brian Niccol as the coffee chain’s new CEO and chairman...
-- Starbucks Corp. has named Chipotle Mexican Grill Inc . Chief Executive Officer Brian Niccol as the coffee chain’s new CEO and chairman, replacing Laxman Narasimhan after just over a year in the role.Niccol starts his new role on Sept. 9, the company said in a statement. The current chief financial officer will lead the company until then. Starbucks shares jumped 15% on the news in premarket trading, while Chipotle shares fell 8.3%.
Hobson said the board took full responsibility for the weakness at Starbucks and that it wanted to move fast to fix the business. “We own the outcomes,” she said. “We’re not passing any buck and we understand we have a job to do and we’re dong it.” Chipotle said that Chief Operating Officer Scott Boatwright will take over as interim. CFO Jack Hartung, who recently said he would retire in 2025, has also changed course and agreed to remain with the company indefinitely as president of strategy, finance and supply chain to ensure a smooth transition, according to a statement.
Public Interest Registry , the people behind the .ORG domain, named the finalists for the 6th annual .ORG Impact Awards Tuesday and announced that philanthropist and activist Alan Cumming – Emmy and Tony-award winning actor and star and producer of the TV show The Traitors – will host the Washington, D.C. awards ceremony. The initiative recognizes outstanding mission-driven individuals and organizations from around the world for their positive contributions to society.
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Mellody Hobson Bloomberg Starbucks Chipotle Mexican Grill Inc Chief Executive Officer Elliott Investment Management Laxman Narasimhan Chairman
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