New York: Starbucks on Tuesday announced that Brian Niccol, the current CEO of Chipotle, will take over as the coffee giant’s new CEO. This change comes just over a year after Laxman Narasimhan assumed the top position at Starbucks.
Narasimhan has stepped down as CEO and from his role on the Starbucks board, effective immediately, according to the company’s statement.
Niccol has been at the helm of Chipotle since 2018, during which time he led the company through significant growth, nearly doubling its revenue and increasing profitability.
Niccol will officially assume his new role as Starbucks CEO on September 9. Until then, the company’s chief financial officer, Rachel Ruggeri, will serve as interim CEO.
Narasimhan, who took over as Starbucks CEO in 2023 following a period of collaboration with former CEO Howard Schultz, was credited for driving innovation in the company’s supply chains and enhancing store operations during his tenure.
Click here for Latest Fact Checked News On NewsMobile WhatsApp Channel
For viral videos and Latest trends subscribe to NewsMobile YouTube Channel and Follow us on Instagram
