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.
Strange that I am in active boycott of two restaurants, and it happens to be both of these places. Not for anything high minded - they both discontinued their chorizo offerings, the only thing I liked on either of their menus. Happened 7 or 8 years ago now, and I won’t go back.
Chorizo is serious business.