Starbucks CEO replaced by Brian Niccol, a fixer who revived Chipotle when the chain was in distress

In 2018, when Chipotle was reeling from multiple food poisoning outbreaks that had sickened 1,100 people, the company called Taco Bell CEO Brian Niccol to turn things around. The Seattle coffee giant named Niccol as its new chairman and CEO, hoping he can revive fading sales and re-establish Starbucks as a destination where customers are willing to pay premium prices. However, Niccol faces far larger and deeper challenges at Starbucks, which has 38,000 stores worldwide compared to Chipotle’s largely U.S.-based chain of 3,500 restaurants. I’m not sure I’m going to pay $9 for a cup of Venti shaken espresso,” said Nancy Tengler, CEO of Laffer Tengler Investments, which owns shares in Starbucks and Chipotle. In a statement Tuesday, the firm called Niccol’s appointment a “transformational step forward.” “We welcome the appointment of Brian Niccol and we look forward to continuing our engagement with the board as it works toward the realization of Starbucks’ full potential,” Elliott Managing Partner Jesse Cohn and Partner Marc Steinberg said in a joint statement.