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.
I used to love Starbucks because it was a great place to get coffee and chill. Then the whole anti-unions thing, and local coffee shops did it better making me drop Starbucks.
I used to love Chipotle because of their quality and price. Then portions got weirder. Every week was a new food recall. The ones near me look filthy and sad, and that made me drop Chipotle.
This dude ruined chipotle in so many ways. Cutting serving sizes, using lower quality ingredients, reducing employee count and training quality, just letting everything slip. He took that chain from one of the most reliable to somewhere I refuse to set foot in.
But line went up, clearly he's a genius, fail into the next role!
Strange that I am in active boycott of two restaurants, and it happens to be both of these places. Not for anything high minded - they both discontinued their chorizo offerings, the only thing I liked on either of their menus. Happened 7 or 8 years ago now, and I won't go back.
Starbucks is sugary, trash water. Brew your own coffee at home. Costs way less, tastes much better, and it's significantly healthier compared to the flavored milk they sell.
One thing that confounded me when I went to Starbucks for the first time. Asked them for a large black coffee. Since their coffee is way overbrewed so it can be mixed with stuff, it was super strong super hot garbage.
Someone later told me to order it with a little ice to make it drinkable and dilute the flavor.
My question was: why can't I just buy coffee at a coffee place?
Have a stack of 5-10 year old Starbucks gift cards I've collected from various work functions that are still valid. I still haven't gone back. They can't even get me as a free customer.
I’m don’t understand how they can have a level of food that is so trash that even subway is better. McDonald’s is better. The frozen aisle at the supermarket is better. I don’t know how they managed to be so bad.
Was the revenue growth because of his guidance, or despite it? The boom of pickup and delivery in the past few years for places like Chipotle couldn't have hurt. I haven't been in one of their places recently without wondering how they're staying in business, or why people keep coming back. That's true of a lot of fast food places though...Carlin was right, we love to eat. Anything.