Starbucks believes former Plano-based Pizza Hut executive Brian Niccol is the right man to lead the way at the company.
Taco Bell CEO Brian Niccol speaks during an interview at The Associated Press, Tuesday, June 9, 2015 in New York., former president of Yum! Brands and former executive at Plano-based Pizza Hut. Narasimhan’s exit is effective immediately and will be temporary replaced by Starbucks CFO Rachel Ruggeri until September 9.Starbucks chairperson Mellody Hobson told CNBC Tuesday that Niccol also met with former Starbucks CEO Howard Schultz.
Dropping Narasimhan, Schultz’s former hand-picked successor, comes at a critical time for Starbucks. In the past year, the company has been struggling with a decline in sales, battles with unions across the country and fending off its activist investors, Elliott Investment Management and Starboard. The company’s sales have dropped 3% globally in the past year and, in Texas, the company’s unions have been gaining momentum. Denton baristas voted in March to become the 20th store in Texas to unionize, taking the total number of unionized stores to over 400 across the U.S.
Niccol, former executive at Plano-based Pizza Hut, might be the man up to the task of helping Starbucks recover in what has been a tricky 2024. He famously helped introduce breakfast and overhauled cooking equipment and dining rooms to Taco Bell when he was CEO of the company.Perhaps more importantly to Starbucks, during Niccol’s time at Chipotle, company stock rose over 800%, according to Starbucks. He also helped navigate the company through some tumultuous times, like its E.
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