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.
This dude ruined chipotle in so many ways. Cutting serving sizes, using lower quality ingredients, reducing employee count and training quality, just letting everything slip. He took that chain from one of the most reliable to somewhere I refuse to set foot in.
But line went up, clearly he’s a genius, fail into the next role!
I agree with all those points except the serving size one. I remember reading recently that the CEO was upset about some locations skimping after people complained and sent corpos out to retrain them.
According to their PR statement.