Starbucks CEO Laxman Narasimhan is stepping down after struggling sales, to be replaced by Brian Niccol from Chipotle, known for his innovative leadership in the restaurant industry.
Under Narasimhan, Starbucks faced challenges like declining sales, increased competition in China, and boycotts, resulting in a 20% stock value decrease over five years.
Elliott Investment Management sought changes at Starbucks, but Mellody Hobson stated they were not consulted; new CEO Brian Niccol is praised for his transformative leadership at Chipotle.
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