CXO movement decoded!
Starbucks appoints Brian Niccol as the new CEO, replacing Laxman Narasimhan
Starbucks's CEO Laxman Narasimhan abruptly steps down, less than a year and a half into his tenure at the coffee giant. Starbucks has appointed Brian Niccol, former Chipotle CEO, as his successor, effective 9th September. Niccol, known for his turnaround of Chipotle, takes the helm as Starbucks grapples with declining sales, soaring inflation, and increased competition from small independent coffee shops. Niccol’s proven track record in reviving a struggling brand positions him to lead Starbucks' next chapter.
JPMorgan Appoints New Firmwide CTO, Reporting to Lori Beer, the Bank's Global CIO
JPMorgan Chase has appointed Sri Shivananda as its new firmwide Chief Technology Officer, succeeding A.J. Lang, who retired after six years with the bank. Shivananda, who previously served for eight years as a technology chief at PayPal, brings extensive experience in leading large-scale technology transformations. In his new role, he will focus on advancing JPMorgan Chase's technology strategy, enhancing cybersecurity measures, and driving digital innovation. Shivananda's appointment is part of JPMorgan's efforts to strengthen its leadership team and continue its digital transformation to meet evolving customer needs and industry demands.
Wipro CTO Resigns – Another High-Profile Exit from the "Delaporte camp"?
Wipro's Chief Technology Officer, Subha Tatavarti, is stepping down, marking another top-level exit under CEO Srini Pallia. Since Pallia's appointment in April 2024, Wipro has seen a series of resignations, including its Chief Delivery Officer (CDO), Chief Operating Officer (COO), and Chief Executive of the APMEA (Asia Pacific, India, Middle East & Africa) Strategic Market Unit. Tatavarti, who joined Wipro in 2021, leaves as part of ongoing restructuring efforts under the new leadership. Wipro is focusing on promoting internal talent to fill the gaps and stabilize its leadership team as it navigates competitive challenges in the IT sector.
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To Modernize Tech Division, Nike Names Former Salesforce Executive as CIO
Nike has hired former Salesforce executive, Cheryan Jacob, as its Chief Information Officer. Cheryan Jacob, who has also previously associated with Microsoft Corp. and Flexport Inc. is now responsible for driving Nike's innovation agenda. He will focus on integrating advanced technologies and sustainable practices into the global technology division — which develops systems, manages data, and provides engineering support. This strategic move aims to enhance Nike's competitive edge in athletic apparel and sell more products through its direct-to-consumer channels, including its websites and apps.
Boeing Announces New CEO Amid Strategic Shifts
Boeing has appointed Kelly Ortberg as its next CEO, succeeding David Calhoun. Ortberg, a veteran aerospace executive, previously led Rockwell Collins and brings significant industry experience to Boeing. His leadership will focus on stabilizing Boeing's operations and addressing challenges in the commercial aviation sector. Ortberg aims to enhance Boeing's production processes, strengthen supplier relationships, and drive technological advancements. This leadership change is part of Boeing's strategy to navigate market pressures and position itself for long-term success.
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