The struggling coffee chain has tapped Chipotle CEO Brian Niccol to be its new chairman and CEO, effective September 9. Starbucks’ stock soared more than 13% in premarket trading, while Chipotle’s dipped 8%.
Niccol has been leading the Mexican-inspired food chain since 2018, with Starbucks saying he has set “new standards in the industry and driven significant growth and value creation,” pointing to its revenue growing nearly 800% during his tenure.
It was tasty and a decent enough value through the mid-2010s.
Since then, quality has plummeted, sizes halved, and prices doubled - so if it’s not extremely convenient, it’s far from worth it.
Huh, look at that. Niccol took the reins in 2018, right at the time of the shift. Doesn’t matter, line goed up!
I guess it’s still able to make money by coasting on brand recognition, but Bri-Bri is already long gone and won’t have to worry about the consequences.
What little quality Starbucks has left is about to go the same way - but it’s got even more inertial
The enshittifiation continues.