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News@lemmy.world • 1 month ago

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

201

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

@ByteOnBikes@slrpnk.net to

News@lemmy.world • 1 month ago

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

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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Bone
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fedilink
1•1 month ago
Their coffee might be bad but people like them for their other drinks, or fancy coffees.
- Flying Squid
  link
  fedilink
  2•1 month ago
  Yeah, but the fancy coffees taste bad too, because of the bad coffee. The other drinks can be okay though.

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