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Customers order at a Starbucks in Manhattan Beach, California, on July 19, 2024. Starbucks is among the businesses impacted as Airlines, banks, TV channels and other businesses were disrupted worldwide on July 19 following a major computer systems outage linked to an update on an antivirus program. (Photo by ETIENNE LAURENT / AFP) (Photo by ETIENNE LAURENT/AFP via Getty Images)

Starbucks Replaces Its CEO With Chipotle CEO After Year Of Low Sales: ‘Management Shakeup’

The coffee giant Starbucks is replacing its CEO with the former head of Chipotle to be in charge of the Seattle-based coffee chain, with hopes of reviving sales and appeal to outside investors.

Brian Niccol watches his chip shot on the 10th hole during the second round of the AT&T Pebble Beach Pro-Am golf tournament at Monterey Peninsula Country Club - Shore Course. Ray Acevedo-USA TODAY Sports

Starbucks taps Chipotle’s Niccol as CEO in surprise move, shares soar

Starbucks named Chipotle Mexican Grill head Brian Niccol as its new CEO in a shock move that sent the coffee chain’s shares up over 20%.

NILES, ILLINOIS - APRIL 30: People stand at a counter inside a McDonald's fast food restaurant April 30, 2003 in Niles, Illinois. McDonald's Corporation announced that results for the quarter that ended March 31 and showed a 7 percent gain in earnings per share (before the cumulative effect of accounting changes) on higher revenues. Comparable unit sales have declined. (Photo by Tim Boyle/Getty Images)

California Sees 7% Fast-Food Price Hike Amid $20 Minimum Wage Raise, Tops Nation

With the massive increase in minimum wage for fast-food workers in California, the Golden State saw their fast-food prices increase at least 7% in a six-month period.