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Chipotle’s Niccol to Remain in Newport Beach

Gets office, assistant, corporate jet

Chipotle Mexican Grill Inc. Chief Executive Brian Niccol, who was hired this week by Starbucks Corp., intends to remain in Newport Beach.

Starbucks, which is based in Seattle, said it will set up a “small remote office” in Newport Beach, hire an assistant for Niccol and allow him to use the company jet, according to a filing with the Securities and Exchange Commission.

Shares of Chipotle today fell 2.4% to $52.58 and a $72 billion market cap. The shares are off about 5.9% since Aug. 13 when Starbucks named Niccol as its new CEO and chairman.

For more details on the hiring, see the Aug. 19 print issue of the Orange County Business Journal.

 

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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