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Starbucks has appointed Brian Niccol as CEO following Laxman Narasimhan's resignation amid declining sales and customer dissatisfaction. The coffee chain's comparable store sales have dropped significantly, particularly in China, prompting a need for strategic changes to regain market share and customer loyalty. Niccol's leadership will be crucial in addressing these challenges.
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Brian Niccol, the new CEO of Starbucks, has unveiled his strategy to enhance customer service and improve store experiences amid declining sales. His focus includes addressing supply chain issues and restoring the brand's community coffeehouse image, particularly in the U.S. market. Niccol aims to ensure timely service and elevate the in-store experience.
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Nike announced Elliott Hill will succeed John Donahoe as CEO, effective October 14, 2024. Hill, a former executive with 32 years at Nike, returns amid declining sales and increased competition. Donahoe will remain as an advisor until January 2025. Nike's shares rose 9% following the announcement.