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☆ I have some suggestions for the new Starbucks CEO
▼ + stars: | 2024-08-13 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +1 min

Chipotle CEO Brian Niccol is replacing Laxman Narasimhan as Starbucks CEO. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStarbucks just replaced its CEO after a rocky nine-month stint — and as a former barista, I can see why! This story is available exclusively to Business Insider subscribers.

Persons: Brian Niccol, Laxman Narasimhan, I'm, —, Howard Schultz, I've Organizations: Starbucks, Service, Business

☆ Starbucks is replacing its CEO with the boss of Chipotle in an abrupt management shake-up
▼ + stars: | 2024-08-13 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

Starbucks CEO Laxman Narasimhan has stepped down effective immediately. Brian Niccol, the current CEO of Chipotle, will replace Narasimhan in early September. This leadership change comes as Starbucks works to turn around its business. Go to newsletter preferences Thanks for signing up! The news comes as Starbucks looks to turn around its business amid faltering sales in recent months.

Persons: Laxman Narasimhan, Brian Niccol, —, Narasimhan Organizations: Starbucks, Narasimhan, Service, Business

☆ Starbucks Names Chipotle Boss as New C.E.O.
▼ + stars: | 2024-08-13 | by ( Danielle Kaye | More About Danielle Kaye | ) www.nytimes.com time to read: +1 min

The chief executive of Chipotle Mexican Grill is moving over to Starbucks, the coffee chain announced on Tuesday. Brian Niccol, who has held the top position at Chipotle since 2018, will take the helm of Starbucks next month, the company said. He will replace Laxman Narasimhan, whose relatively brief tenure began in March last year, when he became the first chief executive to come from outside the company. Mr. Niccol’s career also includes a stint as chief executive of Taco Bell. Mr. Narasimhan will step down as chief executive and board director immediately, with the chief financial officer Rachel Ruggeri stepping in as interim chief executive until Sept. 9.

Persons: Brian Niccol, Laxman Narasimhan, Niccol’s, Narasimhan, Rachel Ruggeri Organizations: Starbucks, Taco Bell Locations: Chipotle, United States, China

☆ Jim Cramer says incoming Starbucks CEO Brian Niccol has all the tools needed to fix the coffee chain
▼ + stars: | 2024-08-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Club holding Starbucks on Tuesday announced a home-run hire to lead the coffee giant out of its recent slump: Chipotle CEO Brian Niccol is replacing Laxman Narasimhan as the chief executive. Shares of Starbucks soared more than 13% in premarket trading on the news, to more than $87 each. Niccol will start at Starbucks on Sept. 9 and also serve as chairman of the board of directors. Narasimhan had served as Starbucks' CEO since March 2023. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Brian Niccol, Laxman Narasimhan, Jim Cramer, Laxman, Niccol, Narasimhan, Rachel Ruggeri, Jim Cramer's, Jim Organizations: Starbucks, Taco Bell, CNBC Locations: Taco, China

☆ Starbucks upgraded already by Wall Street firm as it makes stunning CEO change
▼ + stars: | 2024-08-13 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

Wall Street wasted no time getting behind Starbucks shares after the No. 1 U.S. coffee restaurant named Chipotle CEO Brian Niccol as CEO , dumping Laxman Narasimhan. Baird upgraded Starbucks to outperform from neutral shortly after the news and before trading even began on Wall Street officially. Starbucks shares have struggled for the last three years after an initial demand boom following the pandemic. SBUX 5Y mountain Starbucks, 5 years Baird set a new price target of $110 on Starbucks, which represents a 40%-plus pop from Monday's close.

Persons: Brian Niccol, Laxman Narasimhan, Baird, David Tarantino, Narasimhan, Niccol, Taco Bell Organizations: Wall, Starbucks, Taco Bell, Yum Brands, Taco, Procter, Gamble

☆ TD Cowen upgrades Starbucks to buy
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTD Cowen upgrades Starbucks to buyAndrew Charles, TD Cowen research analyst, joins 'Money Movers' to discuss the similarities between Brian Niccol's position with Starbucks now and Chipotle some years ago, how Niccol was able to impact Chipotle, and more

Persons: Cowen, Andrew Charles, TD Cowen, Brian Niccol's, Niccol Organizations: Starbucks

☆ Watch CNBC's full interview with Starbucks Chair Mellody Hobson
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Starbucks Chair Mellody HobsonStarbucks Chair Mellody Hobson joins 'Squawk Box' to discuss news of the company replacing its CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, how the decision was made, the challenges facing the company today, why Brian Niccol was picked as the new CEO, and more.

Persons: Hobson, Mellody Hobson, Laxman Narasimhan, Brian Niccol Organizations: Starbucks

☆ Very demure, very mindful: How TikTok’s latest catchphrase came to be
▼ + stars: | 2024-08-13 | by ( Scottie Andrew | ) edition.cnn.com time to read: +3 min

CNN —Traditionally, women considered “demure” behave in a way that is modest, reserved and inoffensive to the point that they’re barely visible. “That’s the joke!”The satire is clearest in a clip in which she asserts that she’s going to behave in a demure, mindful way while going out on the Las Vegas Strip. (The Lincoln Project also made its own “demure” video making fun of Vance and his appearance.) “One thing you need to learn about being demurity, about being demure –– being demure is being mindful, and being mindful includes your f**king self,” she says. Be mindful, be demure and don’t ever let no b*tch dull your shine.”

Persons: Lebron, ”, Marge Simpson, Patty, Selma, “, who’s, she’ll, it’s, you’ve, She’s, Kamala Harris ’, Donald Trump, Ohio GOP Sen, JD Vance, Vance, dainty, “ Chase Organizations: CNN, ”, Texas, Las, Taco Bell, CVS Pharmacy, Lebron, Ohio GOP, Lincoln Locations: Ohio

Starbucks makes a change at the topThis just in: Laxman Narasimhan is out as the C.E.O. of Starbucks, the company announced on Tuesday, a year and a half since he succeeded Howard Schultz at the coffee chain. Narasimhan will be replaced by Brian Niccol, a fast-food industry veteran who executed a turnaround as C.E.O. Narasimhan has also been rocked by dueling activist investor campaigns and has had to fend off criticism from Schultz. Rachel Ruggeri, the Starbucks chief financial officer, will serve as interim C.E.O.

Persons: Laxman Narasimhan, Howard Schultz, Brian Niccol, Narasimhan, Schultz, It’s, Chipotle, Mellody Hobson, Rachel Ruggeri, Niccol Organizations: Starbucks, Narasimhan Locations: U.S, China

☆ Chipotle's Brian Niccol is 'the guy' to turn around Starbucks' premium brand, says Evercore's Palmer
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChipotle's Brian Niccol is 'the guy' to turn around Starbucks' premium brand, says Evercore's PalmerDavid Palmer, Evercore ISI analyst, joins 'Squawk on the Street' to discuss the challenge of reestablishing the premium brand Starbucks once was, why the analyst didn't rerate Starbucks' stock, and much more.

Persons: Brian Niccol, Evercore's Palmer David Palmer, didn't

☆ What went disastrously wrong in Laxman Narasimhan's 17 months as CEO of Starbucks
▼ + stars: | 2024-08-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Read previewLaxman Narasimhan is stepping down as CEO of Starbucks, just 17 months after he assumed the role in March 2023, the coffee giant announced on Tuesday. Chipotle CEO Brian Niccol will take over in September, with current CFO Rachel Ruggeri serving as interim CEO until then. Narasimhan's time at the head of the company had been tainted by falling sales, union clashes, and activist investors. Its former CEO keeps attacking the companyHoward Schultz, who led Starbucks for over 23 years, is not afraid to share his views on company management. In Starbucks' press release addressing the leadership change, Schultz didn't acknowledge Narasimhan's time at the company.

Persons: —, Laxman, Chipotle, Brian Niccol, Rachel Ruggeri, Laxman Narasimhan, William Blair, Sharon Zackfia, Narasimhan, Chris O'Cull, Elliott, Paul Singer, Elliott Management, Howard Schultz, Stephen Brashear, Getty Howard Schultz, Schultz, Schultz didn't Organizations: Service, Starbucks, Business, Narasimhan's, Elliott Management, CNBC, Getty, Street, The Workers United, Financial Times, Pride Locations: China, Palestine

☆ Investor who owns both Starbucks and Chipotle on how she's viewing Niccol jumping over
▼ + stars: | 2024-08-13 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

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

☆ The 10 best companies that hire, promote and train high school graduates: 'It's a launchpad for your career'
▼ + stars: | 2024-08-13 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

U.S. high school graduates looking for entry-level work might consider starting out at a company appearing on a new ranking from the American Opportunity Index. Released earlier this month, the list named 50 large companies as the best places for people with a high school diploma to launch their careers. The index scored companies based on three metrics: how likely they are to hire entry-level employees, promote them from within and set them up to land better-paying jobs when they leave. "We didn't see a whole lot out there for the 40% of high school graduates who aren't going off to post-secondary education immediately — most of whom have to find some sort of work," he continues. Rather than survey the companies, the index analyzed the career paths of around 5 million workers from 2018 until 2022 to make its assessment.

Persons: who've, Rajiv Chandrasekaran, aren't, Chandrasekaran Organizations: American, Schultz, Foundation, American Opportunity, Glass Institute, Harvard Business School, Walgreens, Financial Services, Gap Inc, Goodyear Tire, Starbucks Retailers, CNBC

☆ Starbucks’ CEO is out. Chipotle’s Brian Niccol is taking over
▼ + stars: | 2024-08-13 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Starbucks CEO Laxman Narasimhan is stepping down immediately after just a year in the role, the company announced Tuesday. The struggling coffee chain has tapped Chipotle CEO Brian Niccol to be its new chairman and CEO, effective September 9. Starbucks’ stock soared more than 13% in premarket trading, while Chipotle’s dipped 8%. Chipotle CEO Brian Niccol is leaving the chain for Starbucks. From ChipotleStarbucks’ struggles reflect consumer fatigue with high prices at food chains, restaurants and stores after years of price hikes.

Persons: Laxman Narasimhan, Brian Niccol, Niccol, “ Brian, ”, Mellody Hobson, ” Narasimhan, Laxman, ” Hobson, Neil Saunders, ” Saunders, Saunders, Narasimhan’s, Howard Schultz, ” Schultz Organizations: New, New York CNN, Starbucks, Elliott Investment Management, GlobalData, Wall Street Locations: New York, Mexican, North America

☆ Chipotle stock falls as CEO Brian Niccol leaves for Starbucks
▼ + stars: | 2024-08-13 | by ( Michele Luhn | ) www.cnbc.com time to read: +1 min

Chipotle stock fell as much as 10% in premarket trading 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 700% since since he took over. Niccol helped lead Chipotle through a foodborne illness scandal and oversaw the chain of restaurants during the pandemic. Before taking over at Chipotle, Niccol was the CEO at Yum Brands' Taco Bell.

Persons: Brian Niccol, Niccol, Scott Boatwright, He's, Jack Hartung, Brian, Mellody Hobson, Chipotle, — CNBC's Amelia Lucas Organizations: Starbucks, Yum Brands, Bell Locations: Chipotle

☆ Jim Cramer: What Starbucks shareholders should do after 20% stock pop on CEO change
▼ + stars: | 2024-08-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. There were many Wall Street upgrades of Starbucks stock following the change. Jim Cramer said he's happy about the switch and remains committed to Starbucks shares. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Morgan, Laxman Narasimhan, He's, Brian Niccol, he's, Jim, Mizuho, Morgan Stanley, Palo, Jim Cramer's Organizations: CNBC, Federal Reserve, Nasdaq, Tuesday's PPI, Nvidia, Starbucks, Palo Alto Networks Locations: Palo Alto

☆ Restaurant CEOs’ new favorite word is value as they aim to bring back customers
▼ + stars: | 2024-08-11 | by ( Amelia Lucas | ) www.cnbc.com time to read: +6 min

"The word 'value' has received a lot of airtime in the past few months," Josh Kobza, the CEO of Burger King parent company Restaurant Brands International , said on Thursday. Value for shareholdersA drive-through area of a Burger King restaurant in Peoria, Ill. Daniel Acker | Bloomberg | Getty ImagesCompanies aren't just thinking about offering value for customers — they're also thinking about shareholder value. For example, Burger King was one of the first chains to unveil a $5 value meal this summer. When its rivals followed suit with their own $5 discount deals, the Restaurant Brands chain didn't see any clear impact to its business. "There are actually some positives to the focus on value across the industry," Restaurant Brands' Kobza told CNBC.

Persons: Mario Tama, McDonald's, Josh Kobza, Burger, There's, Taco Bell, Papa, Ravi Thanawala, Chris Kempczinski, Richa Naidu, Kempczinski, it's, Brian Niccol, Adam Jeffery, Niccol, John Peyton, IHOP, It's, Peyton, Daniel Acker, — they're, They're, Burger King, Kobza Organizations: Getty, Taco Bell, Yum Brands, Restaurant Brands, Bureau of Labor Statistics, Burger King, Reuters, Grill, CNBC, Brands, Peoria , Ill, Bloomberg, Starbucks, U.S Locations: Burbank , California, Burger King, Oak Brook , Illinois, Peoria ,

☆ Social media keeps catching Wall Street off guard
▼ + stars: | 2024-08-11 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

In 2015, he created TickerTags, a social media data aggregator that tracks company mentions, and sold it to Jefferies' M Science. To be fair…Speculating and making decisions based on social media trends is a risky wager. Wall Street doesn't always respond to social media trends that could negatively drive fundamentals because there aren't tools to understand the impacts, McKeown noted. In the event a social media trend is mentioned, it's not factored into their valuation model, Ober added. How social media sentiment plays into a thesis should depend on an investor's time horizon.

Persons: It's, Bud Light's, influencer Dylan Mulvaney, BUD, Kirk McKeown, Chris Camillo, Jefferies, Camillo, Bud, didn't, Paul Johnson, Laxman Narasimhan, misperception, Sara Senatore, I've, Senatore, Chipotle, Keith Lee, dollies, Brian Niccol, Goldman Sachs, They're, Matt Ober, they're, I'd, McKeown, it's, Ober Organizations: Service, Business, Anheuser, Busch, Wall Street, Pew Research Center, Molson, TAP, Starbucks, Nicusa Investment, Columbia Business School, of America Locations: Palestine, Gaza, SBUX

☆ Customers didn’t stop spending. Companies stopped serving
▼ + stars: | 2024-08-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

It’s called a sector rotation, and it happens all the time as part of the natural course of a business cycle. The US economy is still pretty strong, growing at an annualized rate close to 3% in the most recent quarter. But it’s not as if Americans have stopped going to restaurants — they’re just being a bit more discerning when they do. Instead, they’re going to Texas Roadhouse, where they can sit down and have some service with their meal. Or they’re swinging through Chipotle, which saw sales shoot up 11% last quarter at stores open at least a year.

Persons: CNN Business ’, they’ve, that’s, it’s, they’re, ”, Mark Hoplamazian, Marriott’s, Disney, Hugh Johnston, — they’ve, Pete Werner, wouldn’t Organizations: CNN Business, New York CNN, Wall, Texas, Disney, CNN, Bloomberg Locations: New York, —, Texas

☆ Final Trades: Uber, Chipotle, Organon and the HWM
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Uber, Chipotle, Organon and the HWMThe Investment Committee give you their top stocks to watch for the second half.

Organizations: Investment

☆ Taco Bell could hold the secret formula for bringing customers back to fast food
▼ + stars: | 2024-08-06 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Fast food giant Yum Brands is going all in on value — but only Taco Bell is performing well enough to immediately bring back inflation-weary customers. But Gibbs said Taco Bell is outperforming its rivals in the fast food industry. “I think we’re really seeing Taco Bell stand out from the crowd,” he said to investors. Of the three, only Taco Bell’s US same-store sales grew in the second quarter of 2024, at 5%. The earnings call highlighted how fast food and fast casual chains are struggling to retain customers who believe it is cheaper to just eat at home.

Persons: Taco Bell, David Gibbs, Gibbs, ”, Chipotle, Taco, ” Gibbs, YUM, Chris Turner, Burger, Bell, Lawrence Kim, Yum, CNN’s Clare Duffy Organizations: New, New York CNN, Yum Brands, KFC, Taco, ! Brands, CNN Locations: New York, East, Malaysia, Indonesia, Israel

☆ ‘The summer job is back’: Teens enter the labor force as employers dish out higher wages, perks
▼ + stars: | 2024-08-04 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

That change in pay and benefits underscores the changing job outlook for the millions of American teen workers following the pandemic-induced labor crunch. Despite those efforts, she's at times seen teen employees leave for higher pay at chain rivals like Starbucks . 'The summer job is back'Whether it's a raise or financial support for education, these boons appear to be luring teens to the workforce. "The summer job is back," said Alicia Sasser Modestino, an associate professor of economics who studies youth development at Northeastern University. Gusto expects sports and recreation; education; and food and beverage to be popular summer job sectors for this age bracket.

Persons: Spencer Platt, Dailey Jogan, Jogan, Liz Wilke, Chipotle, Daniel Banks, Justin Sullivan, Banks, Erin Powell's, Powell, she's, Alicia Sasser Modestino, Gusto's Wilke, Wilke, today's, Olivia Locarno Organizations: Getty, Detroit, Employers, Grill, Northeastern University, Starbucks, Marist College, Amazon Locations: Coney, Brooklyn, New York City, California, San Rafael , California, Minnesota, New Jersey

☆ Fast food giants like McDonald's and Chipotle may be forced to hike prices in California again.
▼ + stars: | 2024-08-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

The California Fast Food Workers Union is calling for the state's minimum wage to rise to $20.70. Businesses are still adjusting to the latest hike, and this could be a breaking point. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFresh off the heels of a major wage hike in April, California fast food workers are calling for a new one "to keep up with the rising cost of living." The California Fast Food Workers Union presented its demand for a new wage of $20.70 (up from $20) at the first-ever meeting of the newly formed Fast Food Council, KTLA News reported.

Persons: — Organizations: Food Workers Union, Service, Food Council, KTLA News, Business Locations: California

With nearly three-fourths of the S & P 500 reporting second-quarter results, the earnings picture for the back half of the year is looking unusually complicated. It's been a 'meh' quarter so far We have the usual beat on bottom-line earnings, but revenue beats are below expectations. Most companies are beating on earnings estimates but are declining to hike full-year guidance beyond the beat. Plenty of complaints about a slowing China consumer A weak China economy has been a significant headwind for a number of global companies this season. Procter & Gamble's China sales tumbled 8% from a year ago as consumer spending slowed.

Persons: It's, Sherwin, Williams, Lockheed Martin, Chipotle, Isaac, CDW, Clorox, – Hershey, Kraft Heinz, Mondelez, General Mills, Smucker, McDonald's, Wendy's, Bob, Wyndham, Mills, Marriott, LVMH, haven't Organizations: GE Aerospace, Hasbro, Lockheed, Verizon, Mattel, IBM, Juniper Networks, Enphase Energy, NXP Semiconductors, Accenture, Oracle, Procter, Gamble, PepsiCo, ConAgra Brands, Bank of America, MGM Resorts, Comcast, Marriott, Airlines, Allegiant, Ryanair, Gamble's, Starbucks, Visa, Nike, Vegas Sands Locations: J.M, Atlantic City, China, Gamble's China, Greater China, Japan, Macao, Marina, Sands, Singapore

☆ Why Americans are snubbing McDonald’s and Starbucks
▼ + stars: | 2024-07-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —On the surface, it looks like Americans are laying off the Big Macs, booze and even — gasp! On Monday, McDonald’s reported sales fell 0.7% in the US from the same period in 2023. The once reliably cheap McDonald’s pushed its prices up, while sit-down restaurants leaned into value and convenience. Applebee’s, for one, made a direct pitch to the hordes of ticked-off McDonald’s customers who felt the chain had abused its pricing power. Now, McDonald’s is trying to win back poorer customers while appealing to more affluent customers who want something new.

Persons: CNN Business ’, McDonald’s, Johnny Walker, It’s, it’s, they’re, ”, RJ Hottovy, Jonathan Maze, I’m, —, Chili’s, “, Taylor Swift Organizations: CNN Business, New York CNN, Starbucks, Diageo, Restaurant Business, Dine Brands, CNN Locations: New York, United States, North America, Texas, Paris

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