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.
I wish! We have a “TimeOut!” coffee shop down the road, and they’ve got the attitude and they price their thimbles-worth like it’s the airport, but I really didn’t go in for the show so much as a decent frothy cuppa; and I left feeling just as lacking and a little less valued.