Starbucks fires CEO Laxman Narasimhan. Replaces him with Chipotle CEO Brian Niccol.
Starbucks fires CEO Laxman Narasimhan. It appears that the 62% profit margin on those pricey coffee drinks wasn’t enough to keep him in the top spot. The decision to replace him with Chipotle CEO Brian Niccol has definitely raised some eyebrows. As a former Starbucks employee, I understand the frustration of customers feeling ripped off by the high prices and skimpy portions. The whole charm of Starbucks used to be its social environment, but now most stores are just a drive-through experience. The new interiors are bland and uninviting, lacking the atmosphere that justified the premium prices in the past.
It’s no secret that Starbucks has been facing a decline in profits, but is it solely the CEO’s fault?… Continue reading
John Q. Hosedrinker