Starbucks CEO Laxman Narasimhan Steps Down; Chipotle's Brian Niccol Takes Charge
Tuesday, 13 August 2024, 12:22
Starbucks Leadership Change
Starbucks has made a pivotal decision to replace its CEO amid difficult market conditions. Laxman Narasimhan is stepping down from his position after only a year.
New Appointment
The coffee giant has named Brian Niccol, currently the chairman and CEO of Chipotle, as its new leader starting on September 9.
Market Reaction
- Starbucks shares rose more than 13% before market opening following the announcement.
- The move comes as the company faced weak demand and discontent from investors.
This change aims to revitalize the company's strategy and improve shareholder confidence in the future.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.