(TheConservativeTimes.org) – Starbucks has been struggling with low demand and investors who aren’t happy with the numbers, pushing them to make changes. They’ve recently appointed a new CEO, Brian Nicole, who is the chairman and CEO of Chipotle.
Laxman Narasimhan has been the CEO of Starbucks for a little over a year, but the company announced that he’d be stepping down. Narasimhan was a PepsiCo executive for years who became CEO of Starbucks last year.
Investors have been reluctant in the company as sales have continued to drop, they’ve faced competition from lower-cost competitors in China, and they’ve experienced controversy over their alleged support of Israel.
Mellody Hobson, chair of Starbucks’ board of directors, praised Nicole for how he transformed Chipotle since becoming the CEO.
“Brian is a culture carrier who brings a wealth of experience and a proven track record of driving innovation and growth. Like all of us at Starbucks, he understands that a remarkable customer experience is rooted in an exceptional partner experience,” Hobson said
Many people have thought that the CEO of Starbucks needs to take a strong pivot, and it seems that Nicole might be the perfect person for the job. Hobson stated that he helped with menu innovation and overall operational excellence, while implementing a huge digital transformation within the stores.
With Starbucks missing their revenue goals, the company is ready to make changes by appointing a new CEO to change things up. Howard Schultz, Starbucks Chair and longtime CEO stated that he has admired Nicole for a long time.
Said Shultz, “I believe he is the leader Starbucks needs at a pivotal moment in its history. He has my respect and full support.”
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