What Happened to Starbucks’ CEO? New Changes Explained By Outgoing has fueled widespread interest and speculation. The unexpected leadership change has left many curious about the reasons behind the transition. Here is everything to know about the change in Starbucks’ leadership.
Why did Starbucks CEO Laxman Narasimhan step down? No reason has been given behind Laxman Narasimhan stepping down as Starbucks CEO. However, the departure has come amid reports of the coffee giant’s falling sales and sinking stock prices. Narasimhan has unexpectedly stepped down from his role as CEO and as a member of the Starbucks board, effective immediately.
The announcement comes at a critical time for the company, which has been facing significant challenges, including broad-based sales declines. Additionally, Starbucks has been under pressure from activist fund Elliott Investment Management, which recently took a stake in the company and has been pushing for measures to boost its share price. (via ) In a statement, Starbucks Board Chair Mellody Hobson acknowledged Narasimhan’s contributions, noting his dedication to improving the business despite the challenges.
Who is the new CEO of Starbucks? Brian Niccol is the new CEO of Starbucks. Starbucks has announced the appointment of Niccol as its new chairman and chief executive officer. His tenure will begin on September 9, 2024.
Until then, the company’s chief financial officer, Rachel Ruggeri, will step in as interim CEO. Mellody Hobso.