Starbucks declared that Laxman Narasimhan, its current CEO, will be replaced. According to the Seattle-based coffee company, Brian Niccol, the CEO of Chipotle, will take over as the new CEO. As anticipated, this announcement has created quite a stir on social media. In the middle of all the posts is an interview with Narasimhan that was conducted a month ago and is going viral. He is heard in the video stating that, in order to preserve his work-life balance, he doesn’t work past 6 p.m.
According to a recent statement made by Starbucks CEO Laxman Narasimhan, he doesn’t work past six o’clock and advises staff members to “better be sure that it’s important” if they need a minute of his time after that time. One X user shared about the interview and wrote, “He was just fired today.
In a conversation with Fortune Magazine, the 57-year-old talked about a range of topics. In response to a question regarding his work-life balance, he stated that he completes his work by 6 p.m. and that anything that requires him to stay later had better be “very important.”
How did social media react?
A variety of comments were shared in response to the X post. Someone commented, “You sound like a genius if you say something like this when the stock price is doing well.” However, if it’s failing, you’re fired.
One more said, “He’s worth $25–50 million.” I’m positive he’ll be OK. I think I would also occasionally let up a little on the gas. “I wonder if he was sent notice after 6 pm,” said a third.
The CEO position was relinquished by Narasimhan “with immediate effect.” In addition, he is no longer on the Starbucks board. Niccol, the new CEO, will shortly take on this new position. Rachel Ruggeri, Starbucks’ Chief Financial Officer (CFO), will take over as CEO in the interim.
