Starbucks: There is a major change in the leadership of global coffee chain Starbucks. Brian Nicol will now replace Indian-origin Laxman Narasimhan as the CEO of the company.
Nichol is currently leading Chipotle Mexican Grill. He will take over as CEO on September 9. Until then, CFO, Rachel Ruggeri, will serve as interim CEO. The reason coming out on social media why Laxman will be replaced is an old interview that has gone viral.
Know the exact reason below!
Starbucks: Laxman Narasimhan does not work after 6 pm
After this change in the company, an old interview of Laxman Narasimhan has gone viral on social media. Narasimhan talks about work-life balance and says that he does not work after 6 pm. On social media, Laxman’s not working after 6 pm is being cited as the reason for his departure. Laxman joined Starbucks in 2022.
Laxman Narasimhan has also been the CEO of PepsiCo-Reckitt
57-year-old Narasimhan has also been the CEO of UK-based company Reckitt. Prior to this, Narasimhan had held several leadership roles at PepsiCo, including CEO, Global Chief Commercial Officer.
Narasimhan has served as the CEO of PepsiCo’s Latin America, Europe and Sub-Saharan Africa operations. Narasimhan was a senior partner at consulting firm McKinsey & Company.
Born in Pune, did Masters from Pennsylvania University
Born on 15 May 1967, Narasimhan has a degree in Mechanical Engineering from Pune University in India. After this, he took a master’s degree in German and International Studies from The Lauder Institute at the University of Pennsylvania. He has also done Masters in Business Administration from the Wharton School of the University of Pennsylvania.
Brian Nicol was leading the Mexican Grill and now will be join Starbucks
Brian Nicol was leading Chipotle Mexican Grill since March 2018. Nicol was previously the CEO and director of the company. Since March 2020, he was handling his responsibilities as the chairman of the board.
Before joining Chipotle, Nicole was the CEO of Taco Bell. Here he was working as the President of the company as well as the Chief Marketing and Innovation Officer.
74 out of 191 CEOs left their roles in 2023-24
With the exit of Laxman Narasimhan, the number of CEOs leaving their posts this year has increased to 74. Russell, an organization that measures the performance of 3000 American companies, has given this information in the ‘Russell 3000’ index.
According to ‘Exchange.com’, an organization that tracks exchange changes, out of the 191 CEOs who left their posts this year, 74 were forcibly shown the way out. This is the highest number in any financial year since the company started tracking institutions in 2017.
