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.
People tend to value consistency of flavors a lot more than you seem to realize. Having something taste exactly how you expect it to is very comforting even if the taste isn’t that good. That’s basically the whole reason McDonald’s stays in business.