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.

  • quicklime
    link
    fedilink
    arrow-up
    4
    ·
    28 days ago

    Meanwhile, what they serve at Chipotle is not worth even half of what they charge for it.

    • CmdrShepard42
      link
      fedilink
      arrow-up
      3
      ·
      28 days ago

      Yeah both these companies have been run into the ground in my opinion. They’re just coasting on inertia at this point.