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.
While I agree, part of it is the experience. Some people want to spend time away from home, and for many families that is a way to buy one drink and get alone time or a place to sit with friends for a while. Sometimes it’s also the skill in the drink itself (not Starbucks, though). So in those cases, drink local.