The American-Israeli Starbucks Company announced that its CEO, Laxman Narasimhan, will resign from his position after only one year in office, amid escalating challenges facing the company due to the global popular boycott campaign for its support of the Israeli occupation entity.
This resignation comes at a sensitive time for the company, as its stock has fallen by 17.8% since the beginning of 2024. The company indicated that the value of the stock fell significantly last Monday, reaching $77, compared to more than $96 at the end of trading in 2023.
This significant decline reflects the increasing pressure on Starbucks as a result of the popular campaign that greatly affected its financial performance and contributed to accelerating Narasimhan’s resignation.
