Brief by Shorts91 Newsdesk / 06:00am on 14 Aug 2024,Wednesday Business
Starbucks announced the immediate replacement of Indian-origin CEO Laxman Narasimhan with Brian Niccol, CEO of Chipotle. Narasimhan, who took over the role in March 2023, is stepping down from both the CEO position and the board. Known for his emphasis on work-life balance, Narasimhan had stated he "almost never" worked past 6 pm, which has recently gained attention online. Despite his departure, Starbucks praised Narasimhan for his efforts to innovate the brand’s supply chains and improve store operations. The leadership change comes amid declining sales and challenges in the Chinese market.
