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Starbucks changed its management, causing a stir on Wall Street, and its market cap surged by $21.4 billion overnight.
Coffee chain giant starbucks announced on Tuesday that it has hired Brian Niccol, CEO and chairman of the Mexican-style chain restaurant Chipotle Mexican Grill, as the company's new CEO and chairman, which has been warmly welcomed by investors. Boosted by the news, Starbucks's stock skyrocketed by 24.5% on Tuesday, closing at $95.90, and its market cap jumped by $21.4 billion overnight. Meanwhile, Chipotle's stock fell by 7.5%, with its market cap evaporating by $5.7 billion. Niccol has been praised by several analysts as America's best public restaurant CEO, including
