Coffee giant Starbucks replaces boss after global sales slump

Shares in the chain soared after the appointment of a new chief executive to try to boost sales.

British Broadcasting CorporationWatchHomeNewsSportBusinessInnovationCultureTravelEarthVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS ElectionUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC VerifySportBusinessExecutive LoungeTechnology of BusinessWomen at the HelmFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureTravelEarthVideoLiveAudioWeatherNewslettersStarbucks replaces boss after sales slump Getty ImagesThe boss of Starbucks is leaving the company after less than two years in charge as the coffee chain looks for a fix for its flagging sales.

Chief executive Laxman Narasimhan is stepping down and will be replaced by Brian Niccol, the head of Mexican grill chain Chipotle, the company said.

The shake-up comes as Starbucks is grappling with a slump in sales amid a backlash to price increases and boycotts sparked by the Israel-Gaza war.

Howard Schultz, a former executive who oversaw the growth of the coffee chain into a global powerhouse, said he believed Mr Niccol was "the leader Starbucks needs at a pivotal moment in its history".

"He has my respect and full support," Mr Schultz said.

https://www.bbc.com/news/articles/cy0npj1n6rko

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