{"id":2323999,"date":"2024-08-13T17:46:02","date_gmt":"2024-08-13T21:46:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/starbucks-gets-new-ceo-following-boycott-sparked-by-gaza-conflict-washington-examiner\/"},"modified":"2024-08-13T17:50:11","modified_gmt":"2024-08-13T21:50:11","slug":"starbucks-gets-new-ceo-following-boycott-sparked-by-gaza-conflict-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/starbucks-gets-new-ceo-following-boycott-sparked-by-gaza-conflict-washington-examiner\/","title":{"rendered":"Starbucks gets new CEO following boycott sparked by Gaza conflict &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fstarbucks-gets-new-ceo-following-boycott-sparked-by-gaza-conflict-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2323999&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Starbucks has appointed\u2064 Brian \u200dNiccol, the former CEO of Chipotle, as \u200cits new chairman and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/canadian-olympic-committee-warns-athletes-not-to-criticize-china\/\" title=\"Canadian Olympic Committee Warns Athletes Not to Criticize China\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-corporations-consider-blocking-monetary-support-to-gop\/\" title=\"U.S. corporations consider blocking monetary support to GOP\">chief executive<\/a> officer<\/a>, following the resignation of Laxman Narasimhan. This change comes as Starbucks \u2064reported\u200c a 1% decline \u2062in consolidated net revenues in its third <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/freight-train-apple-posts-record-quarterly-revenue\/\" title=\"&#039;Freight Train&#039; Apple Posts Record Quarterly Revenue\">financial quarter<\/a> of 2024, along with a\u200b 3% decrease in global store sales and \u2062a\u2064 drop in \u200cshare value since the beginning of the year. Niccol expressed excitement about leading the\u2064 iconic brand\u200c and \u200daims to drive \u200cgrowth and enhance \u2062customer experience while staying true to Starbucks&#8217; mission and values. Following the announcement of his \u200dappointment, Starbucks\u2063 shares surged over 20%,\u200b indicating investor optimism. The company has faced challenges, \u2064including \u2064a boycott \u2064related \u200cto the ongoing Gaza conflict, which may\u200d have contributed to its declining sales.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Starbucks gets new CEO following boycott sparked by Gaza conflict<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1729124\" class=\"tpd-featured-video bridtv\"><\/div>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/tag\/starbucks\/\" target=\"_blank\" rel=\"noopener\" title>Starbucks<\/a> announced a new CEO seeking to caffeinate the coffee chain&rsquo;s sales, which fell slightly in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/shells-profits-tumble-56-to-5-billion-as-energy-prices-cool\/\" title=\"Shell&#039;s profits plummet by 56% to  billion due to declining energy prices.\">previous quarter due<\/a> to lighter customer traffic.<\/p>\n<p><a href=\"https:\/\/stories.starbucks.com\/press\/2024\/starbucks-names-brian-niccol-as-chairman-and-chief-executive-officer\/\" target=\"_blank\" rel=\"noopener\" title>New CEO Brian Niccol<\/a>, the current CEO of <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/restaurants\/\" target=\"_blank\" rel=\"noopener\" title>Chipotle<\/a>, will replace outgoing CEO Laxman Narasimhan. The announcement from Starbucks comes shortly after the chain revealed the results for its third financial quarter of 2024, during which the chain saw its consolidated net revenues <a href=\"https:\/\/investor.starbucks.com\/news\/financial-releases\/news-details\/2024\/Starbucks-Reports-Q3-Fiscal-2024-Results\/default.aspx\" target=\"_blank\" rel=\"noopener\" title>go down slightly by 1%<\/a>. The chain has also seen its global store sales decrease by 3%, along with its shares shedding value since the beginning of the year.<\/p>\n<p>&ldquo;I have long-admired Starbucks iconic brand, unique culture and commitment to enhancing human connections around the globe,&rdquo; Niccol said. &ldquo;As I embark upon this journey, I am energized by the tremendous potential to drive growth and further enhance the Starbucks experience for our customers and partners, while staying true to our mission and values.&rdquo;&nbsp;<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">FILE &ndash; Brian Niccol, named the chairman and chief executive officer of Starbucks on Aug. 13, 2024, is shown during an interview on June 9, 2015, in New York. (AP Photo\/Mark Lennihan, File)<\/figcaption><\/figure>\n<p>The coffee chain&rsquo;s shares saw <a href=\"https:\/\/www.cbsnews.com\/news\/starbucks-new-ceo-brian-niccol-chipotle-laxman-narasimhan\/\" target=\"_blank\" rel=\"noopener\" title>a jump in value on Tuesday<\/a>, the same day Niccol&rsquo;s hiring was announced, increasing by over 20% to almost $93. Starbucks&rsquo;s shares had been diminishing in value by about 18% since January.<\/p>\n<p>Starbucks&rsquo;s decrease in its quarterly report could be due in part to calls online to boycott the coffee chain in the wake of the conflict in <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/gaza\/\" target=\"_blank\" rel=\"noopener\" title>Gaza<\/a>, with some on social media claiming the chain is connected to Israel. The coffee chain has <a href=\"https:\/\/stories.starbucks.com\/press\/2023\/what-has-starbucks-said-about-the-conflict-in-israel-and-gaza\/\" target=\"_blank\" rel=\"noopener\" title>denied having any connection to the country<\/a>, stating last year that it has &ldquo;never contributed to any government or military operation.&rdquo;<\/p>\n<p>Earlier this year, Starbucks&rsquo;s Middle East franchisee announced it would be <a href=\"https:\/\/apnews.com\/article\/starbucks-firings-mideast-israel-hamas-war-f57e39147f8350d860fb0f57d42a987c\" target=\"_blank\" rel=\"noopener\" title>firing 2,000 of its employees<\/a> as a result of dropping sales caused by boycotts connected with the war in Gaza. <\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><\/a><\/strong><\/p>\n<p>Starbucks praised Niccol, who also previously worked as chief executive at Taco Bell, for his work at Chipotle, which has included raising the burrito chain&rsquo;s stock price by almost 800%.<\/p>\n<p>Niccol will assume his new position on Sept. 9, with the chain having Chief Financial Officer Rachel Ruggeri serve as interim CEO.<\/p>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1729124\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1729124\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Starbucks has appointed a new CEO in response to a boycott related to the Gaza conflict, aiming to boost sales that experienced a slight decline last quarter due to reduced customer visits. Brian Niccol, who is currently the CEO of Chipotle, will take over from Laxman Narasimhan. This announcement follows Starbucks&#8217; report for its third financial quarter of 2024, which showed a minor decrease of 1% in consolidated net revenues and a 3% drop in global store sales. The company&#8217;s stock has also seen a decline since the start of the year. Niccol expressed his admiration for Starbucks&#8217; brand and culture and is excited about the opportunity to foster growth while remaining aligned with the company\u2019s mission and values.<\/p>\n<p>On the day Niccol&#8217;s appointment was announced, Starbucks shares surged by over 20%, reaching nearly $93 after experiencing an approximate 18% decline since January. The recent downturn may be partly attributed to online calls for boycotts linked to claims that Starbucks supports Israel amid ongoing conflicts; however, Starbucks has denied any ties with Israel and stated it does not fund any government or military activities. Earlier this year, its Middle East franchisee announced plans to lay off 2,000 employees due to declining sales associated with these boycotts.<\/p>\n<p>Starbucks commended Niccol for his achievements at Chipotle, where he significantly increased stock value during his tenure as CEO there as well as at Taco Bell. He will officially begin his role on September 9th while Chief Financial Officer Rachel Ruggeri will serve as interim CEO until then<\/p>\n","protected":false},"author":2632,"featured_media":2324000,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/08\/Starbucks-scaled-1024x683.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[6812,3850,38061,9843,32076],"class_list":["post-2323999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-boycott","tag-ceo","tag-gaza-conflict","tag-starbucks","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/08\/Starbucks-scaled-1024x683.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2323999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2632"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2323999"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2323999\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2324000"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2323999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2323999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2323999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}