Starbucks replaces Laxman Narasimhan with Chipotle’s Brian Niccol as CEO
Washington, Aug 13: In a surprise move, struggling multinational coffee chain Starbucks on Tuesday announced the appointment of Brian Niccol as chairman and chief executive officer replacing Indian-origin CEO Laxman Narasimhan who is stepping down.
Chipotle CEO Niccol will start in his new role on September 9, the company announced in a press release. Starbucks chief financial officer Rachel Ruggeri will serve as interim CEO until that time, it said.
Niccol, who will be Starbucks’ fourth CEO in just two years, has been leading the Mexican-inspired food chain since 2018, CNN reported.
Since becoming Chipotle’s CEO in 2018, Niccol has transformed the international chain of fast-casual restaurants specialising in Mexican cuisine, the release said.
“His focus on people and culture, brand, menu innovation, operational excellence, and digital transformation have set new standards in the industry and driven significant growth and value creation,” the release said.
It said that revenue has nearly doubled, profits have increased nearly sevenfold, and the stock price has increased by nearly 800 per cent during his leadership.
“We are thrilled to welcome Brian to Starbucks. His phenomenal career speaks for itself. Brian is a culture carrier who brings a wealth of experience and a proven track record of driving innovation and growth. Like all of us at Starbucks, he understands that a remarkable customer experience is rooted in an exceptional partner experience,” Mellody Hobson, Starbucks’ new lead independent director, said.
“I am excited to join Starbucks and grateful for the opportunity to help steward this incredible company, alongside hundreds of thousands of devoted partners,” Niccol said.
Narasimhan, 57, is stepping down from his role as CEO and as a member of the Starbucks board with immediate effect.
“During his tenure, he improved the Starbucks partner experience, drove significant innovation in our supply chain, and enhanced our store operations,” the release said.
“On behalf of the board, I want to sincerely thank Laxman for his contributions to Starbucks, and his dedication to our people and brand,” said Hobson.
Narasimhan, who is also leaving the board, took over Starbucks in March 2023 and has seen the coffee chain largely struggle under his purview. Most recently, the chain’s sales dropped 3 per cent globally at stores open for at least a year, including a 2 per cent drop in its home North America market, CNN reported.
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Passing out parade held at IMA Dehradun, 491 young officers join Indian Army
Dehradun(PTI): After undergoing rigorous training at the Indian Military Academy (IMA) in Dehradun, 491 cadets participated in a grand Passing Out Parade on Saturday and will now be commissioned as officers in the Indian Army.
The spectacular parade, held at the historic Drill Square in front of the academy's Chatwood Building, was reviewed by Army Chief General Upendra Dwivedi, who served as the reviewing officer.
Along with 491 Indian cadets, 34 foreign cadets from 14 friendly countries also participated in the Autumn Term 2025 Passing Out Parade.
A total of 525 officer cadets from the 157th Regular Course, 46th Technical Entry Scheme, 140th Technical Graduate Course, 55th Special Commissioned Officers Course, and Territorial Army Online Entrance Exam 2023 Course participated in the Passing Out Parade.
The 'Sword of Honour' and gold medal for securing first place during training was awarded to ACA Nishkal Dwivedi, the silver medal to BUO Badal Yadav for second place, and the bronze medal to SUO Kamaljeet Singh for third place.
The silver medal for securing first place in the 'Technical Graduate Course' was awarded to Officer Cadet Jadhav Sujit Sampat, and the silver medal for first place in the 'Technical Entry Scheme-46' was awarded to WCC Abhinav Mehrotra.
The silver medal for the 'Special Commission Officer Course' was given to Officer Cadet Sunil Kumar Chhetri.
Among the foreign cadets, the first place in merit was secured by JUO Mohammad Safin Ashraf from Bangladesh. The Army Chief's Banner for overall best performance in the Autumn Term was awarded to Imphal Company.
As the parade concluded, helicopters showered flowers on the newly commissioned officers from the sky.
On this occasion, General Dwivedi congratulated the new officers in his address for successfully completing their training. He praised the young officers for their high level of discipline, leadership qualities, and endurance, and urged them to uphold the glorious traditions of the Indian Army and serve the nation with loyalty, commitment, and honour.
General Dwivedi said that joining the army marks the beginning of a lifelong duty and selfless service.
The parents and guardians of the newly commissioned officers were also present during the passing out parade.
