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’ve enjoyed many a cup of Starbucks coffee in the past, but I’ve also tasted Starbucks side-by-side with fancy coffees, and it doesn’t even taste like coffee in that context, more like water that has had charred wood steeped in it. I think it must have gotten worse over time.
The lighter roasts may be better by the standards of lighter roasts, but I much prefer darker roasts, so I want them done right. Fortunately I also live in Seattle.