Starbucks Replaces Chief Executive After Activist Investor Campaigns

Starbucks Hires Chipotles Brian Niccol to Take Over

In an unexpected move, Starbucks has announced that it has hired Chipotle Mexican Grill chief Brian Niccol as its next leader. The 50-year-old executive will also assume the role of chairman at Starbucks.

The news comes as Starbucks looks to turn around its business amid faltering sales in recent months. The company's shares have fallen more than 20 percent since the beginning of the year, and it has been facing increasing pressure from activist investors.

Niccol is a seasoned executive with over two decades of experience in the restaurant industry. He has been credited with turning around Chipotle after a series of food safety scandals. He is expected to bring his operational expertise to Starbucks and help the company improve its performance.