Starbucks Appoints Brian Niccol as CEO, Chairman

Starbucks has appointed Brian Niccol, the CEO of Chipotle Mexican Grill, as its new chairman and CEO, following the immediate departure of Laxman Narasimhan. This leadership change comes amid declining sales and pressure from activist investors like Elliott Investment Management. Niccol, known for his successful turnaround of Chipotle, is expected to revitalize Starbucks by focusing on digital sales, menu innovation, and operational efficiency. The announcement led to a 24% surge in Starbucks' stock, reflecting investor confidence in Niccol's ability to address challenges in key markets such as the U.S. and China. Narasimhan's tenure, marked by his emphasis on work-life balance and a disciplined work schedule, ended after 18 months as CEO.