Brian Niccol Named CEO and Chairman of Starbucks

Brian Niccol, formerly of Chipotle, has been named the new CEO and chairman of Starbucks, starting September 9. Niccol's extensive experience contrasts sharply with his predecessor Laxman Narasimhan, who had no restaurant background and faced significant challenges during his tenure. Niccol's appointment caused Starbucks' stock to surge by 25%, reflecting investor confidence in his leadership. However, controversy has arisen over perks in Niccol's contract allowing him to work remotely and commute via private jet, sparking public backlash. Niccol will face challenges including slumping demand in major markets, long wait times, activist investors, and union negotiations. Despite these hurdles, analysts express confidence in Niccol’s ability to lead the company forward.