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Starbucks' $100 Million CEO Hire Sparks Market Frenzy After Chipotle Success

Bloomberg Markets •
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Starbucks Corp. hired Brian Niccol, the turnaround CEO who saved Chipotle and Taco Bell, sending its stock soaring 20% in minutes and marking its biggest single-day gain ever. The move, widely called a 'dream hire' and 'hall of fame restaurant CEO' by investors, reflects Starbucks' desperate bid to reverse its stagnant performance. Starbucks shares jumped nearly 20% on the news, a reaction underscoring the market's belief in Niccol's proven ability to transform struggling restaurant chains. 20% of the stock's value was wiped out in the first hour of trading alone.