Starbucks appoints Chipotle CEO Brian Niccol as new CEO to improve sales and stock performance, effective September 9.

Starbucks names Chipotle CEO Brian Niccol as new CEO, replacing Laxman Narasimhan, as the company faces pressure from activist investor Elliott Investment Management. Effective September 9, Niccol takes over as both chairman and CEO, aiming to revitalize the coffee giant's struggling sales and stock performance. Laxman Narasimhan, who was appointed in March 2022, steps down immediately. Niccol's appointment follows his success at Chipotle, where he led significant growth and value creation, with revenue nearly doubling under his tenure.

August 13, 2024
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