Starbucks announced on Tuesday that it has replaced Indian-origin CEO Laxman Narasimhan with Brian Niccol, the chief executive of Chipotle. Narasimhan, who had been with Starbucks since March 2023, stepped down “with immediate effect” from his role as a board member.
Narasimhan, a veteran of PepsiCo and other consumer brands, had previously emphasized work-life balance, stating in a recent interview that he “almost never” worked past 6 pm. His departure has sparked social media discussions, with some speculating that his adherence to this balance might have contributed to his exit.
In a statement, Starbucks praised Narasimhan for his efforts to innovate in supply chains and enhance store operations, despite challenging market conditions. Starbucks Board Chair Mellody Hobson expressed gratitude for Narasimhan’s contributions and dedication to the brand.
The leadership change comes as Starbucks faces broad-based sales declines and difficulties in the Chinese market, prompting the company to seek a turnaround in its business performance.
