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August 14, 2024
Starbucks is getting a new CEO, and Chipotle is looking for one. The coffee shop giant on Tuesday named Brian Niccol its new chief executive, starting next month. He will take over for Laxman Narasimhan, who is leaving the company immediately, just 17 months after he officially became its CEO following a year-long search and a six-month cultural immersion.
Is Brian Niccol the best fit to get Starbucks back on track? All signs point to yes. The now-former Chipotle CEO has become famous for the burrito brand’s double-digit sales and revenue growth. Recently, the brand has soared in stark contrast to its industry peers engaged in a discount war.
Over at Chipotle, Scott Boatwright has been named interim CEO in the wake of Niccol’s departure. Boatwright, who has been COO since 2017, is credited with leading the integration of new technology into restaurants, achieving strong retention rates, and driving a culture of throughput.
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