Reported 2 months ago
Starbucks announced the replacement of CEO Laxman Narasimhan with Brian Niccol, the current CEO of Chipotle, as the company faces declining sales and investor dissatisfaction. Narasimhan, who has been at the helm for just over a year, will step down immediately, while Niccol is set to take over on September 9. Investors reacted positively to the news, with Starbucks shares climbing over 21% in early trading, reflecting optimism for a turnaround under Niccol's leadership.
Source: YAHOO