Starbucks makes bold move to fix plummeting sales

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Starbucks makes bold move to fix plummeting sales

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Starbucks has announced that Chipotle's CEO Brian Niccol will become its new chief executive in a major shake-up. The coffee chain has faced pressure from activist investor Elliott Investment Management to improve its performance and stock price. Shares of Starbucks shut up 20 percent in early trading following the news, while Chipotle's stock sunk more than 9 percent. Chipotle's CEO Brian Niccol (pictured) will become the new chief executive of Starbucks The Seattle-based coffee chain is facing down pressure from activist investors Niccol will start in his new role on September 9 replacing current CEO Laxman Narasimhan just a year and half after he took on the role.
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