Restaurants
Starbucks is giving incoming CEO Brian Niccol $85 million in cash and stock for leaving Chipotle
Brian Niccol, CEO of Chipotle Anjali Sundaram | CNBC Starbucks offered incoming CEO and Chair Brian Niccol a pay bump and hefty one-time awards to lure him from his prior role as chief executive at Chipotle Mexican Grill. Niccol officially takes the reins at the embattled coffee chain on Sept. 9. As CEO, he’ll be […]
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How Elliott’s monthslong Starbucks campaign got it a better deal than it asked for
People seen around the Starbucks coffee store in Shenzhen, China. Jakub Porzycki | Nurphoto | Getty Images In May, it was a $2.5 billion stake in Texas Instruments and a $1 billion-plus position at Johnson Controls. In June came a $2 billion stake in Southwest Airlines and an equally large investment in Japanese conglomerate SoftBank. […]
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Why Wall Street thinks Brian Niccol is the person to revive Starbucks — and end the Howard Schultz era
Brian Niccol, CEO of Chipotle Anjali Sundaram | CNBC Wall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decadeslong Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job […]
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Chipotle stock falls as CEO Brian Niccol leaves for Starbucks
Chipotle stock fell as much as 10% in premarket trading Tuesday as the company announced CEO Brian Niccol would be leaving his role on Aug. 31 to become CEO of Starbucks. Niccol began as Chipotle CEO in March 2018. Chipotle stock has risen more than 770% since since he took over. Chipotle’s board named Chief […]
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Starbucks replaces CEO Laxman Narasimhan with Chipotle CEO Brian Niccol
Restaurants Starbucks replaces CEO Laxman Narasimhan with Chipotle CEO Brian Niccol. CNBC (L) | Getty Images (R) Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol. Shares of Starbucks rose 10% in premarket trading on the news, while Chipotle’s stock fell 10%. Narasimhan took over as chief executive in March 2023. […]
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Restaurant CEOs’ new favorite word is value as they aim to bring back customers
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 […]
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Restaurant Brands revenue tops estimates, fueled by Tim Hortons
A general view of a Tim Hortons Drive-Thru coffeehouse and restaurant at Lakeside Retail Park on February 5, 2024 in Grays, United Kingdom. John Keeble | Getty Images Restaurant Brands International on Thursday reported quarterly revenue that beat analysts’ expectations, fueled by better-than-expected sales at Tim Hortons and the company’s international restaurants. Shares of the company […]
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Yum Brands reports mixed results as Pizza Hut and KFC same-store sales fall
A sign is posted in front of a Taco Bell restaurant on May 01, 2024 in Richmond, California. Justin Sullivan | Getty Images Yum Brands on Tuesday reported a mixed quarter as both Pizza Hut and KFC reported declining same-store sales. Shares of the company fell less than 1% in premarket trading. Here’s what the […]
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Kellanova stock climbs on reports of potential sale to M&M’s owner Mars
Signage for Kellanova outside the New York Stock Exchange on Sept. 5, 2023. AP Shares of Kellanova climbed 13% in morning trading Monday on reports of buyout interest. M&M’s owner Mars is in talks to acquire the snacking company, CNBC’s David Faber reported, adding rival candy company Hershey is also potentially interested in buying the […]
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Taco Bell to roll out AI drive-thru ordering in hundreds of locations by end of year
A Taco Bell fast-food restaurant and drive-thru at dusk in Gastonia, North Carolina. Jeff Greenberg | Universal Images Group | Getty Images Yum Brands hopes to use artificial intelligence to take down drive-thru orders at hundreds of Taco Bell restaurants by the end of this year. The restaurant company announced on Wednesday that it is […]
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