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 don’t mean any offense but it sounds like that’s what you’re missing. People don’t seem to value taste as their number 1 concern. Probably convenience of some kind (or the fact that they are everywhere). Sounds like SB is having trouble at the moment, but they’ve had the same shitty coffee for forever and they’ve done alright previously.