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WEB: Inside Starbucks' Surprising CEO Firing and Hiring

Starbucks CEO Abruptly Ousted

Starbucks Corporation NASDAQ:SBUX shocked the business world with the abrupt departure of their CEO, Kevin Johnson, after 13 years at the helm. The unexpected resignation sparked an immediate search for a new leader.

Chipotle CEO Hired as Replacement

In a surprising move, Starbucks announced the hiring of Laxman Narasimhan, the former CEO of Chipotle Mexican Grill, as their new chief executive. Narasimhan, who oversaw a period of significant growth and innovation at Chipotle, has been praised for his strategic vision and operational expertise.

A Sudden Shakeup

The CEO shakeup comes amid declining share prices for Starbucks and growing pressure from activist investors. The company's stock has fallen by over 20% in the past year, and shareholders have been demanding changes in leadership and strategy.

A New Era for Starbucks

Narasimhan's appointment marks the beginning of a new era for Starbucks. His experience and proven track record suggest that he is well-equipped to guide the coffee giant through the challenges it faces. Shareholders and industry analysts alike will be watching closely to see how Narasimhan's leadership will impact Starbucks' future growth and profitability.