Starbucks’ CEO is out. Chipotle’s Brian Niccol is taking over
Starbucks’ CEO is out. Chipotle’s Brian Niccol is taking over
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.
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Is that the guy that turns his head sideways for more rice and chicken on his burrito