Reported 2 months ago
Starbucks has announced Brian Niccol, former CEO of Chipotle, as its new CEO, marking a significant leadership change as company shares jumped 23%. Niccol faces the daunting task of revitalizing Starbucks, which has seen declining sales and increased competition, particularly in the U.S. and China markets. Analysts believe he will have the authority to make necessary changes, but they express skepticism about the immediate impact given the company's entrenched issues. Niccol is expected to leverage his experience in brand revitalization and operational efficiency to navigate these challenges.
Source: YAHOO