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Starbucks stockCNBC
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78% Informative
The activist investor's green-and-white letterhead has come to command the attention of directors and the media, who expect that the firm's plans will likely include the firing of an underperforming CEO.
By June , Elliott had amassed a Starbucks position that was worth some $1.9 billion and had begun conversations with the company.
But Elliott didn't ask Starbucks to fire Laxman Narasimhan , CNBC has previously reported.
Starbucks shares surged 25% when the news hit Tuesday , notching their best day since the company's 1992 IPO .
Niccol 's appointment was "a transformational step forward," says Elliott managing partner Jesse Cohn and partner Marc Steinberg .
Representatives for Starbucks and Narasimhan did not immediately respond to a request for comment.
VR Score
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