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Max Knoblauch

It's CEO-poaching season, and investors are buying it

Victoria’s Secret has a new plan to combat increased competition from brands like Rihanna’s Savage X Fenty: steal their CEO.

The struggling retailer announced that it hired a new chief exec, Savage X Fenty boss Hillary Super. Its shares are up about 14% today on the news, chipping away at some of the lingerie company’s losses (its shares were down 28% this year as of Tuesday night).

The corporate poaching comes just a day after Starbucks announced its new CEO: Chipotle’s CEO. The coffee giant nabbed Brian Niccol (who Chipotle had poached from Taco Bell in 2018), sending its shares soaring more than 20% Tuesday. Chipotle's stock fell by about 8%.

Two things appear to be pretty clear: investors love boardroom drama, and executives don’t seem to be burdened by non-compete clauses.

Victoria’s Secret Nabs Rihanna Brand CEO to Lead Turnaround

Victoria’s Secret Nabs Rihanna Brand CEO to Lead Turnaround

The corporate poaching comes just a day after Starbucks announced its new CEO: Chipotle’s CEO. The coffee giant nabbed Brian Niccol (who Chipotle had poached from Taco Bell in 2018), sending its shares soaring more than 20% Tuesday. Chipotle's stock fell by about 8%.

Two things appear to be pretty clear: investors love boardroom drama, and executives don’t seem to be burdened by non-compete clauses.

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