CEO Carousel: Leadership Changes at Major Global Firms

Several major global companies, including Boeing, Intel, and Starbucks, have undergone significant leadership changes this year. CEOs like Pat Gelsinger and Karen Lynch were replaced to address challenges such as sluggish sales and stagnant share prices. New leaders, often seasoned executives, are tasked with turning these companies around.

Major global corporations have experienced notable leadership changes in 2023. Boeing and Intel count among the big names that have seen their CEOs step down in favor of seasoned executives to navigate their ongoing challenges.

Intel's Pat Gelsinger, for instance, resigned on December 1, prior to completing his turnaround plan. This prompted the company to appoint CFO David Zinsner and executive Michelle Johnston Holthaus as interim co-leads.

Similarly, Starbucks replaced Laxman Narasimhan with Brian Niccol amid stock value slumps. Notably, Niccol has a reputation for revitalizing Chipotle's sales, demonstrating the strategic choices many firms are making in these transitions.

(With inputs from agencies.)