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
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    fedilink
    43 months ago

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

    • @[email protected]
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      33 months ago

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