The coffee chain hires Chipotle’s Brian Niccol to take over from Laxman Narasimhan, ending a rocky stint marked slowing sales and a slumping stock price.

Starbucks, the struggling coffee chain, is getting its third C.E.O. in the past 18 months.Matt Rourke/Associated PressStarbucks makes a change at the top

This just in: Laxman Narasimhan is out as the C.E.O. of Starbucks, the company announced on Tuesday, a year and a half since he succeeded Howard Schultz at the coffee chain.

Narasimhan will be replaced by Brian Niccol, a fast-food industry veteran who executed a turnaround as C.E.O. of Chipotle. The 50-year-old executive will also assume the role of chairman at Starbucks.

Starbucks shares have fallen more than 20 percent since Narasimhan took the reins, hurt by slowing sales in the U.S. and China. Narasimhan has also been rocked by dueling activist investor campaigns

Keep reading this article on Andrew Ross Sorkin – Author New York Times.

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