• Will the new CEO save Starbucks from its struggles?

  • Aug 13 2024
  • Duración: 1 m
  • Podcast

Will the new CEO save Starbucks from its struggles?

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  • Starbucks appointed Brian Niccol as the new CEO, replacing Laxman Narasimhan, effective September 9, 2024. Narasimhan, who held the position for over a year, faced challenges including declining sales and competition in China. Following the announcement of Niccol's appointment, Starbucks shares increased by more than 13% prior to market opening. Niccol previously served as chairman and CEO of Chipotle, where he implemented changes that enhanced innovation and operational efficiency. Mellody Hobson, chair of Starbucks’ board, emphasized Niccol's strong leadership skills and ability to improve company culture. Howard Schultz expressed support for Niccol, asserting he is the right choice for Starbucks at this time.

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