News@lemmy.world · 4 months ago

Starbucks’ CEO is out. Chipotle’s Brian Niccol is taking over

www.cnn.com

Starbucks’ CEO is out. Chipotle’s Brian Niccol is taking over

www.cnn.com

ByteOnBikes@slrpnk.net to

News@lemmy.world · 4 months ago

Starbucks’ CEO is out. Chipotle’s Brian Niccol is taking over | CNN Business

www.cnn.com

Starbucks CEO Laxman Narasimhan is stepping down immediately after just a year in the role, the company announced Tuesday.

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.

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4 months ago
McDonald’s has better tasting coffee than Starbucks since they swiped Tim Horton’s vendor a few years ago.

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