Https Timesofindia Indiatimes Com World Us Starbucks Ex Ceo Laxman Narasimhan Said He Didnt Work After 6pm He Just Got Fired Articleshow 112521685 Cms
Starbucks Replaces CEO After Activist Investor Pressure
Starbucks' Former CEO Laxman Narasimhan Departs
Starbucks has announced that its Indian-origin CEO, Laxman Narasimhan, will be stepping down from his role with immediate effect.
Narasimhan had been with the coffee chain for just over a year, but his departure comes after a period of sustained pressure from activist investor Bill Ackman, who has been critical of the company's performance and strategy.
Chipotle CEO Brian Niccol to Take Over
Starbucks has named Brian Niccol, the current CEO of Chipotle, as Narasimhan's replacement.
Niccol has a strong track record in the restaurant industry, having previously served as CEO of Taco Bell and Pizza Hut.
He will be tasked with leading Starbucks through a period of change, as the company looks to adapt to the evolving coffee market.
Narasimhan's Termination Agreement
Starbucks has not disclosed the terms of Narasimhan's termination agreement, but reports suggest that he could be entitled to a significant payout.
Narasimhan's contract included a severance package worth millions of dollars, which he could potentially receive if he is terminated without cause.
Activist Investor Pressure
Ackman's activist investment firm, Pershing Square Capital Management, has been a vocal critic of Starbucks' performance under Narasimhan's leadership.
Ackman has called for a number of changes at Starbucks, including a reduction in costs and a more focused menu.
Narasimhan's departure suggests that Ackman's pressure may have played a role in his decision to leave the company.
Starbucks' Future
Niccol's appointment as CEO is a sign that Starbucks is looking to make some significant changes.
It remains to be seen whether Niccol will be able to deliver the results that Ackman and other shareholders are looking for, but his track record suggests that he has the potential to be a successful leader.
Https Www News18 Com Viral Starbucks Ceo Revealed He Almost Never Worked Past 6 Pm Gets Fired After A Month 9015096 Html
تعليقات