Brian Niccol, CEO of Chipotle Anjali Sundaram | CNBC Starbucks offered incoming CEO and Chair Brian Niccol a pay bump and hefty one-time awards to lure him from his prior role as chief executive at Chipotle Mexican Grill. Niccol officially takes the reins at the embattled coffee chain on Sept. 9. As CEO, he’ll be … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on June 12, 2024 in New York City. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no … Read more
CNBC’s Jim Cramer on Tuesday discussed Starbucks‘ management shake-up, saying the new leadership will be crucial to turn the business around after the ubiquitous coffee chain announced it would replace CEO Laxman Narasimhan with Brian Niccol, who is currently the CEO of Chipotle. “Brian Niccol is the key to a new Starbucks, one that can … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market comeback: Stocks are having a strong day, boosted by the encouraging wholesale inflation data released earlier Tuesday. At roughly 5,420 on the S & P … Read more
Brian Niccol, CEO of Chipotle Anjali Sundaram | CNBC Wall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decades-long Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job … Read more
Chipotle stock fell more than 10% Tuesday as the company announced CEO Brian Niccol would be leaving his role on Aug. 31 to become CEO of Starbucks. Niccol began as Chipotle CEO in March 2018. Chipotle stock has risen more than 770% since since he took over. Chipotle’s board named Chief Operating Officer Scott Boatwright … Read more
Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol as the coffee chain tries to reverse a sales slump, sending its stock soaring more than 20%. Chipotle’s stock fell 10% on the news that Niccol would leave after a successful tenure at the burrito chain. Narasimhan’s departure is effective immediately. Starbucks … Read more
A sign advertises meal deals at a McDonald’s restaurant in Burbank, California, on July 22, 2024. Mario Tama | Getty Images Restaurant CEOs have become obsessed with the word “value” in explaining to investors why their sales lagged this quarter while sharing plans to revive traffic in the coming months. On McDonald’s quarterly conference call … Read more
Kroger, Walmart, and McDonald’s. Beata Zawrzel | Nurphoto | Brandon Bell | Getty Images | Kamil Krzaczynski | Reuters Expensive Big Mac meals and fears of surge pricing at grocery stores have put food chains and consumer product companies in politicians’ crosshairs. Walmart, McDonald’s and Kroger are just a few of the companies that have … Read more
The McDonald’s logo is displayed at a McDonald’s restaurant in Burbank, California, on July 22, 2024. Mario Tama | Getty Images Subway started phasing out its $5 footlong sandwiches a decade ago. But these days, other fast-food chains have revived the $5 price point, hoping to win over customers who have cut back their spending. … Read more
