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.
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