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Amid challenges such as low demand and dissatisfied investors, Starbucks announced on Tuesday that Laxman Narasimhan will step down from his position as CEO after just over a year.
The Seattle-based coffee giant stated that Brian Niccol, president and CEO of Chipotle, will take over as president and CEO of Starbucks starting September 9.
Ahead of the market opening, Starbucks' stock rose by more than 13%.
Narasimhan, a former PepsiCo executive and former CEO of Reckitt, a British health company, took on the role of CEO in March 2023.
He replaced Howard Schultz, who had returned from retirement in 2022 to serve as interim CEO after a long tenure as Starbucks' leader and chairman emeritus.
Mellody Hobson, chair of Starbucks' board of directors, highlighted that Niccol has transformed Chipotle since becoming CEO in 2018, focusing on menu innovation, operational excellence, and digital transformation.
“Brian is a cultural steward with significant experience and a proven track record of innovation and growth,” Hobson said in a statement. “He understands, as we all do at Starbucks, that an extraordinary customer experience is based on an equally exceptional partner experience.”
For his part, Schultz expressed admiration for Niccol.
“I believe he is the leader Starbucks needs at this critical moment in its history. He has my respect and full support,” Schultz said in a statement.
Source: www.independentespanol.com
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