Consumer
New Starbucks ‘Dream’ CEO Swings $27 Billion in Market Value
- Starbucks shares add $21.4 billion in value on Niccol hire
- Chipotle stock loses $5.7 billion as CEO leaves for Starbucks
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Starbucks Corp. investors have never rewarded the stock more than they have today on the news that the coffee chain giant hired Chipotle Mexican Grill Inc.’s Chief Executive Officer Brian Niccol as its new leader.
Shares of Seattle-based Starbucks surged 25%, the most ever, and added $21.4 billion in market capitalization. On the other hand, Chipotle shares slid 7.5%, for a loss in value of $5.7 billion.