Brian Niccol Named New CEO of Starbucks

Starbucks has appointed Brian Niccol as its new CEO, marking the third leadership change in under three years. Niccol, known for successfully revitalizing Chipotle and Taco Bell, will take over from Laxman Narasimhan, who faced challenges such as declining sales, rising competition, and internal strife, including a unionization drive. The company's shares surged 24.5% following the announcement, reflecting investor optimism. Niccol must navigate a series of issues, including inflation impacting customer spending, dissatisfaction among staff, and criticism from former CEO Howard Schultz, who remains influential within the company. His immediate tasks will involve enhancing digital payments and improving the overall customer experience. The board has emphasized that Niccol will have full control over the company's strategy moving forward.