Precision measurements of CP violating observables in the mixing and decay of B mesons provide excellent opportunities to search for possible contributions from New Physics beyond the Standard Model. In these proceedings, key measurements pursued by the LHCb collaboration at CERN's Large Hadron Collider (LHC) are described. Results obtained from the analysis of data collected in 2011 already match or even surpass the measurements of previous experiments in their precision. All results obtained so far are compatible with Standard Model predictions, hints for possible deviations reported by previous experiments are not confirmed. All results are dominated by statistical uncertainties and significant improvements are expected from analysing larger data sets. The total integrated luminosity accumulated by LHCb has already been tripled in 2012 and is expected to more than double again in the data taking period following the first long shutdown of the LHC. A comprehensive upgrade of the LHCb apparatus is then foreseen for the second long shutdown of the LHC accelerator in 2018/2019. The main goals of the LHCb upgrade are to operate the experiment at higher instantaneous luminosities and to improve further the trigger efficiency for heavy quark decays to purely hadronic final states.