Tag: Restaurants

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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2024-08-12

Restaurant CEOs focus on value as they aim to bring back customers

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Business

A sign advertises meal deals at a McDonald’s restaurant in Burbank, California, on July 22, 2024. Mario Tama | Getty Images Restaurant CEOs have become obsessed with the word “value” in explaining to investors why their sales lagged this quarter while sharing plans to revive traffic in the coming months. On McDonald’s quarterly conference call last month, executives said…

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