Exclusive-Starbucks CTO resigned Monday, interim named

Core Insights - Starbucks' chief technology officer Deb Hall Lefevre has resigned, with Ningyu Chen appointed as interim CTO [1][2] - The company is focused on technology initiatives to support its "Back to Starbucks" turnaround plan [2][5] - Starbucks plans to close underperforming stores in the U.S. and Canada, expecting a 1% reduction in store count by the end of fiscal 2025 [4][5] Technology Initiatives - Recent technology initiatives include an AI-powered automated inventory counter, an AI assistant for baristas, and a new point-of-sales system [3] - The automated inventory counter is being rolled out to all company-owned stores in North America by the end of September [3] Corporate Strategy - The "Back to Starbucks" plan aims to revive the chain's appeal after six consecutive quarters of sales declines [5] - CEO Brian Niccol is leading the turnaround efforts, which include eliminating 900 non-retail roles [4][5] Financial Performance - Starbucks shares have decreased by over 12% in the last 12 months, contrasting with a 16% increase in the S&P 500 Index [5]