Starbucks sent shockwaves through the business world on Tuesday with its announcement that Chipotle CEO Brian Niccol would take the same role at the coffee chain, replacing Laxman Narasimhan.
While Starbucks shareholders and Wall Street rejoiced , it's a double-edged sword for Tengler as a holder of both stocks.
"While I cheered the move of Brian to Starbucks this morning, I mourned it at the loss at Chipotle."
To be sure, Starbucks investors had to go through pain to get to this point.
Heading into Tuesday's opening bell, the stock was down about 22% compared with when Narasimhan, the outgoing Starbucks CEO, took over in March 2023.
Persons:
Laffer, Nancy Tengler, she's, Brian Niccol, Laxman Narasimhan, it's, Tengler, Brian, she'll, Chipotle, Niccol, nabbed, I'm, that's, —, Robert Hum, Tom Rotunno
Organizations:
Starbucks
Locations:
Chipotle, Seattle