Brian Niccol’s appointment suggests a win for ex-CEO Howard Schultz
The coffee grounds have settled on the boardroom drama at Starbucks and a victor has emerged. Take a bow Howard Schultz. In a major shake-up, the Seattle-based coffee giant has named current Chipotle boss Brian Niccol as its new chief executive. He will replace Laxman Narasimhan, who leaves immediately. Niccol is highly regarded for the turnaround at Chipotle — and his appointment should quieten the ambitions of Elliott Investment Management.
analyst Peter Saleh reckons Starbucks has invested more than $400mn a year — or 20-25 per cent of the company’s capital spend — to expand. Fixing Starbucks will not be as straightforward as Chipotle. The coffee chain is a far bigger beast, with 39,477 locations worldwide. Chipotle has just 3,530 outlets, mostly in the US. But Niccol’s appointment will buy the company some time to start addressing US problems and pare back in China.
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