Starbucks announces that Chief Executive Officer Laxman Narasimhan will be stepping down and replaced by Chipotle's head, Brian Niccol, following pressure from activist investor Elliott Management. The company's CFO, Rachel Ruggeri, will serve as interim CEO until Niccol takes over on Sept. 9. In addition, Starbucks partners with TECC to establish a Taiwan Education Centre at IIT Guwahati, promoting cultural and educational exchange between India and Taiwan.