RIYADH: The CEO position is frequently regarded as the apex of corporate leadership; it is a highly demanding role that is subject to great pressure, particularly in uncertain times.
However, even the most well-liked CEOs may lose their jobs due to poor management, financial difficulties, or the need to change course.
After just one year in the role, Starbucks CEO Laxman Narasimhan is stepping down, and on September 9th, Brian Niccol of Chipotle will take over as chairman and CEO.
Narasimhan tried to restart operations and enter new markets, but the obstacles were too great, and he left the company too soon.
CNN reports that Niccol has led Chipotle to a stunning 800% increase in revenue. Niccol successfully revived the restaurant after its Escherichia coli outbreak.
Starbucks is optimistic that Niccol can duplicate this achievement and deal with the company’s recurring problems, such as diminishing sales and heightened competition in the US and China.
The company recently lowered its annual sales forecast because of the weak demand for coffee in its top markets. The departure of Narasimhan, which was brought about by criticism from former CEO Howard Schultz and activist investor Elliott Investment Management, caused Starbucks’ stock to rise by 19%.
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