CNBC's Jim Cramer on discussed Starbucks' management shakeup, saying the new leadership will be crucial to turn the business around.
The coffee chain announced it would replace current CEO Laxman Narasimhan with Brian Niccol, who is currently the CEO of Chipotle.' management shakeup, saying the new leadership will be crucial to turn the business around. The ubiquitous coffee chain on Tuesday"Brian Niccol is the key to a new Starbucks, one that can reclaim its old mantle as the 'third place' — you just need to know that this turnaround can't happen overnight, he said.
"Today we got something very rare: A CEO was straight up fired, and in his place, we didn't just get some stuffed shirt we didn't care about," he said."No, Starbucks brought in Brian Niccol, the man who almost singlehandedly turned around Chipotle, to run the business. They could not have picked a better guy."for the CNBC Investing Club to follow Jim Cramer's every move in the market.