Starbucks CEO Laxman Narasimhan Steps Down; Chipotle's Brian Niccol Takes Charge

Tuesday, 13 August 2024, 12:22

In a significant leadership change, Starbucks has announced that its CEO, Laxman Narasimhan, is resigning after just over a year amid declining demand and investor dissatisfaction. The company has appointed Brian Niccol, the current chairman and CEO of Chipotle, to take over the role effective September 9. Following this announcement, Starbucks shares experienced a notable rise of over 13% before the market opened, reflecting investor optimism about the new leadership direction.
Yahoo Finance
Starbucks CEO Laxman Narasimhan Steps Down; Chipotle's Brian Niccol Takes Charge

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.


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