Starbucks Replaces CEO Laxman Narasimhan With Chipotle CEO Brian Niccol
Starbucks announcement on August 13, 2024 to replace CEO Laxman Narasimhan was unexpected. Laxman Narasimhan, who had only been in the role since March 2023 faced immediate termination. Narasimhan’s tenure at Starbucks was by challenges in driving sales growth in the US and China, Starbucks’ two largest markets. During his time the company reported a 3% decline in same-store sales.