New Delhi: Starbucks new CEO, Brian Niccol, has announced that he will travel to the companys headquarters in Seattle three times a week, covering a distance of 1600 kilometers from his current location in Newport Beach, California. This decision has raised eyebrows, with Shark Tank judge and famous entrepreneur Anupam Mittal questioning the CEOs commitment to environmental sustainability, asking What happened to leading by example in response to the news.In a recent move, Starbucks made a significant change in its leadership by removing Laxman Narasimhan from his position as Chief Executive Officer and appointing Brian Niccol, who previously led Chipotle, as his replacement.Starbucks bid to revive salesThe decision to remove the former CEO came at a time when Starbucks was facing a decline in sales, highlighting the need for new leadership to address the companys challenges. According to the SEC filing, the newly appointed CEO, Brian Niccol, will receive a significant compensation package, including an annual salary of $1.6 million and a cash bonus ranging from $3.6 million to $7.2 million, which will be tied to his performance and the companys success.CEO critiqueAnupam Mittal expressed his thoughts by posting on X (formerly Twitter), a popular microblogging platform, where he shared his opinions with his followers.Take a look at the post: What happened to leading by example https://t.co/8UCqqZPlrP— Anupam Mittal (@AnupamMittal) August 24, 2024Mittal Slams StarbucksAnupam Mittal has a history of sharing his opinions on Starbucks online, and earlier this month, he shared his thoughts on the appointment of Brian Niccol as CEO, expressing his worries about the companys decline in value. He stated, Starbucks continued value erosion is inevitable unless they go back to their roots or reinvent their raison detre. Right now they are less of a coffee shop and more of a dessert store with criminal levels of disguised sugar making people sick. Probably more toxic than tobacco cos. Mittal also commended the decision to bring in Brian Niccol, saying, But good move bringing in Brian.
