The coffee grounds have settled on the boardroom drama at Starbucks and a victor has emerged. Take a bow Howard Schultz.
In a major shake-up, the Seattle-based coffee giant has named current Chipotle boss Brian Niccol as its new chief executive. He will replace Laxman Narasimhan, who leaves immediately.
Niccol is highly regarded for the turnaround at Chipotle — and his appointment should (at least temporarily) quieten the ambitions of Elliott Investment Management. The activist, with a stake in Starbucks, had been in talks with Narasimhan.
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