Starbucks Struggles

Chipotle CEO Brian Niccol to Take Over as Starbucks Chairman and CEO

Weak demand and disgruntled investors through the company into turmoil

Starbucks Corp. has announced that it has named Brian Niccol as its next chairman and CEO, effective September 9. Niccol, who has led Chipotle for the past six years, will replace Howard Schultz, who has been serving as interim CEO since April.

Starbucks has been struggling with weak demand and disgruntled investors in recent months. The company's stock price has fallen by more than 20% since the beginning of the year, and its same-store sales have been declining. Niccol is expected to bring a fresh perspective to Starbucks and help the company regain its footing.

Niccol has a proven track record of success at Chipotle. He joined the company in 2018, and under his leadership, Chipotle's stock price has more than doubled. The company has also seen strong same-store sales growth under Niccol's leadership.

It is unclear what Niccol's plans are for Starbucks. However, his appointment is likely to be well-received by investors, who are hoping that he can turn the company around.