08:21 AM EDT, 10/02/2024 (MT Newswires) -- Starbucks' ( SBUX ) new Chief Executive Officer Brian Niccol has eliminated the role of global chief merchant and product officer as part of a broader effort to rearrange the company's leadership, Bloomberg reported Wednesday.

The position, created by former CEO Laxman Narasimhan in March to focus on product development and consumer insights, was held by Lyne Castonguay. A Starbucks ( SBUX ) spokesperson reportedly told Bloomberg that Castonguay is no longer with the company.

Starbucks ( SBUX ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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