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Brian Niccol Appointed CEO of Starbucks

Former Chipotle CEO to Take the Reins

In a surprising move, Chipotle Mexican Grill CEO Brian Niccol is set to join Starbucks as its new CEO effective September 1st. The announcement sent Starbucks shares soaring by over 14% in premarket trading. The company's former CEO, Laxman Narasimhan, stepped down from his role earlier today.

Schultz Expresses Concerns

While the appointment of Niccol has been met with optimism by investors, former Starbucks CEO Howard Schultz has expressed concerns about the company's direction. Schultz, who stepped down in 2018 but remains an active voice in the company, took to LinkedIn to voice his worries about Starbucks' trajectory.

Despite Schultz's concerns, Starbucks may be entering a new era with Niccol at the helm. The fast-casual burrito chain has been growing rapidly under Niccol's leadership, and investors are hoping that he can bring that same success to Starbucks.

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