Starbucks has a new chief executive with a talent for wrapping burritos. The coffee chain announced Tuesday the appointment of Brian Niccol, CEO of Chipotle Mexican Grill, who will take the helm starting Sept. 9.
The news comes just 17 months after Starbucks hired Laxman Narasimhan to take the reins from founder (and returning CEO) Howard Schultz. While Narasimhan spent six months training alongside baristas to learn how to create the full drink menu, his legacy was marred by conflicts with unions, plummeting sales, activist investors, and even his CEO predecessor. After what Narasimhan described as a “disappointing” second-quarter performance at Starbucks, Schulz blasted the company on LinkedIn, arguing the chain needed to overhaul its strategy.
