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Starbucks hires Chipotle boss Brian Niccol as its next CEO as pressure from activist investors grows

Starbucks announced Tuesday it will be replacing current CEO Laxman Narasimhan with Chipotle leader Brian Niccol after months of slowing sales, according to reports. The company said Niccol — who has been widely praised for a turnaround at Chipotle that has boosted the burrito chain’s stock by more than 50% over the past year — will assume the executive position on Sept. 9, according to The Wall Street Journal. The sudden change in leadership follows a 20% stock drop for Starbucks since Narasimhan took the ...