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Starbucks boss Laxman Narasimhan ousted
The head of Starbucks has been ousted after less than two years as sales plummet and customers boycott the coffee chain over alleged ties to Israel.
Laxman Narasimhan, former chief executive of British consumer goods giant Reckitt Benckiser before joining Starbucks in March 2023, left yesterday with immediate effect.
He will be replaced by Brian Niccol, the Chipotle boss who has been praised for turning around the Mexican chain’s fortunes.
The restructuring comes after a period of declining sales and a dispute over its alleged ties to Israel amid the war in Gaza.
The board finally acted after coming under fire from activist investor Elliott Management and former boss Howard Schultz.
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