Starbucks’ CEO is out. Chipotle’s Brian Niccol is taking over | CNN Business
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Starbucks CEO Laxman Narasimhan is stepping down immediately after just a year in the role, the company announced Tuesday.

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.

  • Flying Squid@lemmy.world
    2·
    3 months ago

    That’s what I hear, but I’d rather go to a local place. I always try to support local businesses over chains when possible. Even if it’s just a place I’m visiting, I’d rather support their local coffee chain than put more money in McDonald’s or Starbucks coffee. And I’ve discovered a lot of really nice places to hang out that way.

    • Nougat@fedia.io
      3·
      3 months ago

      I wholly agree, but if you’re not in a headspace where you’re able to “deal with” searching out a local shop in a new area, and just need something good and predictable wherever you are, McD’s coffee definitely fulfills that need.

      • Flying Squid@lemmy.world
        2·
        3 months ago

        That does make sense. Especially when traveling on an interstate and you just need a pit stop. I might do that instead of Starbucks in those situations from now on. Thanks!