Tag: replaces

2024-10-19

CVS replaces CEO Karen Lynch with exec David Joyner

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Business

Longtime CVS Health executive David Joyner has succeeded Karen Lynch as CEO, as the company struggles to drive higher profits and stock performance, CVS announced Friday. The move, effective Thursday, the day before the announcement, comes as CVS shares have fallen nearly 20% this year. The stock closed around 5% lower on Friday. CVS has faced challenges as higher…

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2024-08-14

Starbucks replaces CEO Laxman Narasimhan with Chipotle CEO Brian Niccol

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Business

Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, sending its stock soaring 24.5%, its best day ever. Chipotle’s stock fell over 10% on the news that Niccol would leave after a successful tenure at the burrito chain. Narasimhan’s departure is effective immediately. Starbucks CFO Rachel Ruggeri will step in as interim chief executive until…

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