Brian Niccols, CEO of Starbucks, speaking with CNBC on Oct. 31, 2024.
CNBC
Starbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.
“As we focus on our ‘Back to Starbucks’ plan, we need a new operating model for our retail team, with clear ownership and accountability and an appropriate scope for each role,” Niccol said in a letter to employees shared on the company’s website.
Starbucks announced the move hours before it reported fiscal first-quarter earnings and revenue that topped analyst expectations. As the company tries to mount a turnaround, same-stores sales declined for the fourth straight quarter, but not as badly as Wall Street expected.
Before spending six years at Chipotle, Niccol served as CEO of Yum Brands’ Taco Bell. Since starting at Starbucks in September, he has…