Unexpectedly, Starbucks has appointed Brian Niccol, the CEO of Chipotle, to succeed Laxman Narasimhan, an Indian-born executive. Narasimhan started his job last year and is leaving both the Starbucks board and his CEO role. This abrupt shift in leadership occurs at a time when Starbucks is dealing with serious issues, such as a precipitous drop in sales and an unsatisfactory april earnings report. The corporation blames the difficult market circumstances in china and the general decline in consumer sentiment for these difficulties.
 
Narasimhan's retirement joins a growing list of prominent CEOs of indian descent who have recently left their positions. The previous CEO of WeWork, sandeep Mathrani, resigned in May 2023. Parag Agrawal, another prominent person recently fired, was promoted to X's CEO position in november 2021. Sundar Pichai may soon be added to this list of well-known losers. Investor pressure to remove him has persisted despite Google's development under his direction because of the company's difficulties in the AI space. Some experts predict Pichai will soon step down or be fired.
 
An old interview tape has gone viral during Laxman Narasimhan's departure, supporting rumors that he was fired. He talked about his rigorous work schedule in the interview with Fortune Magazine, saying, "If anyone at Starbucks gets a minute of my time after 6 pm, they better be sure that it's important." A lot of conversation has been started online by this statement. Laxman Narasimhan was born in pune, India, on May 15, 1967, and has had a notable career. He graduated from the university of pune with a degree in Mechanical Engineering, the university of pennsylvania with a Master's, and Wharton with an MBA.
 
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

Starbucks

G GOWTHAM

17/08/2024 07:33 AM