Starbucks, struggling with weak demand and disgruntled investors, said it’s replacing CEO Laxman Narasimhan with Brian Niccol, the chairman and CEO of Chipotle (pictured here). https://t.co/QehdEd4Kfl pic.twitter.com/5wPDZD54jB
— ABC News (@ABC) August 13, 2024
Starbucks is desperate.
The company has ousted their current CEO Laxman Narasimhan, effective immediately. Starbucks CFO Rachel Ruggeri will step in as interim chief executive until Sept. 9, when Brian Niccol officially assumes the job. Niccol’s last day as CEO of Chipotle will be Aug. 31, the chain announced in a separate press release. Meanwhile, Chipotle has appointed Scott Boatwright, Chief Operating Officer, as Interim CEO.
Twitter had some thoughts (mostly jokes) about this, behind the cut.
Starbucks orders after hiring Chipotle’s CEO pic.twitter.com/F62JCIh25E
— Dividend Hero (@HeroDividend) August 13, 2024
Starbucks drinks after hiring Chipotle’s CEO pic.twitter.com/nzXuoCgnDS
— Ramp Capital (@RampCapitalLLC) August 13, 2024
How a cup of Starbucks coffee gonna look once former Chipotle CEO “optimizes” the brand pic.twitter.com/MdHyLIEbMN
— Trung Phan (@TrungTPhan) August 13, 2024
Starbucks just fired CEO Laxman Narasimhan…then poached Chipotle CEO Brian Niccol to replace him.
SBUX up +23% (to $110B) while CMG down 13%+ (to $67B) on the news. Wow. pic.twitter.com/0dkMgZQ1w2
— Trung Phan (@TrungTPhan) August 13, 2024
the CEO of Chipotle is now at Starbucks
Coming soon to a Starbucks near you pic.twitter.com/5to5mo6njw
— gaut (@0xgaut) August 13, 2024
