Brian Niccol departs from Chipotle, joins Starbucks

Former Chipotle CEO Brian Niccol has left the company to become the CEO of Starbucks. Niccol served as Chairman of the Board and Chief Executive Officer of Chipotle since 2018.

Niccol's departure from Chipotle comes as the company faces a number of challenges, including rising labor costs and supply chain disruptions. In 2022, the company announced that it was raising prices to offset these costs, which led to a decline in sales.

Despite these challenges, Chipotle has continued to grow in recent years. The company's revenues have more than doubled since Niccol became CEO, and its stock price has more than tripled.

Niccol's departure from Chipotle is a significant loss for the company. He is a highly respected leader in the restaurant industry, and he is widely credited with Chipotle's turnaround in recent years.

It is unclear who will replace Niccol as CEO of Chipotle. The company has not yet announced a successor.