Starbucks is replacing its CEO with the boss of Chipotle in an abrupt management shake-up

• Starbucks CEO Laxman Narasimhan has stepped down effective immediately.
• Brian Niccol, the current CEO of Chipotle, will replace Narasimhan in early September.
• This leadership change comes as Starbucks works to turn around its business.

Starbucks announced Tuesday that its CEO, Laxman Narasimhan, will step down effective immediately.

Narasimhan, who took on the role in March 2023, will be replaced by Brian Niccol, who currently heads the fast-casual chain Chipotle.