Starbucks CEO Laxman Narasimhan Steps Down, Brian Niccol to Take Helm

Starbucks’ Indian-origin CEO, Laxman Narasimhan, has stepped down from his role as chief executive and as a member of the Starbucks board “with immediate effect,” the company announced in a statement. He has been succeeded by Brian Niccol, the current CEO of Chipotle.

Laxman Narasimhan, a seasoned executive with experience at PepsiCo and other consumer brands, assumed the top position in March 2023 after a transition period with long-time Starbucks CEO and interim leader Howard Schultz.

In its statement, Starbucks commended Narasimhan for driving innovation in the company’s supply chains and enhancing store operations during his tenure. “Despite facing significant challenges, Laxman remained focused on improving the business to meet the needs of our customers and partners,” said Mellody Hobson, Starbucks board chair.

These changes come as the company works to turn around its business amidst broad-based sales declines in its recent financial results. Starbucks has been struggling due to weakening consumer sentiment and challenging market conditions in China.