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Starbucks’ new CEO faces backlash over 1,000-mile commute to Seattle office
(www.theguardian.com)
this post was submitted on 21 Aug 2024
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Work Reform
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I don't understand why they think he's worth this much money and effort when by all accounts Chipotle is a shell of its former glory
This is the only metric that boards care about when hiring CEOs:
It won't last. It just takes awhile for consumers to figure out that your product is now shit.
Most people aren't visiting every day to notice the price increases or the quality decreases. And the first or second time it's often written off as just an outlier.
Of course there's variance per customer, but it takes a couple years before you really earn the shitty reputation of something like Dominos circa 2014. In the meantime, line looks like this before it drops. And by that time you're CEO of a different company.
you underestimate how corrupt, short term and opportunist the markets are I think
Yeah it’s like a big cult, the real market doesn’t matter to anyone, they just rotate CEOs when that hits. It’s always and forever about next quarter growth, nothing else matters.
They don’t care about long-term, line must go up now. If he can do a similar stock price pump in the next few years to Starbucks by cost cutting and some bullshit projects, they will be rich and happy.
If consumers had any taste, McDonald's would have gone out of business decades ago.
Cause gutting doublebucks is the plan
Absolutely. Jack Welch's rotting corpse requires further tributes. The product isn't what matters, just the line going up.
The Behind the Bastards episodes on this dickbag is a solid listen.
solid like a fresh, crunchy cool ranch dorito
Chipotle failed to unionize and I bet short term profits are up.
He grew the value of chipotle considerable.
https://www.macrotrends.net/stocks/charts/CMG/chipotle-mexican-grill/revenue
Chipotle wasn’t expected to survive as a company and not only did it survive. He grew business.
This isn’t the first time he revitalized a brand. He did it at Taco Bell as well.
It sounds like his strategy at Starbucks is lowering prices, making the stores more inviting to hang out in and increase employee happiness.
Fascinating
I keep hearing it's much worse than it used to be, profits regardless
It entirely depends on which Chipotle you walk into on what day at what time. Their ingredients are still good. There's just no consistency. It was never cheap, but at least it's still (usually) a lot of food.
The food quality is slightly down in my opinion but that’s because he went to a safer food model.
I have a friend who works at Starbucks who’s excited about the changes. He’s a manager in Las Vegas. If he does the same at Starbucks, he pushes for internal promotions. The goal was 95% of promotions were internal.
I don’t go to Starbucks often. The coffee is expensive. The stores are unwelcoming and I don’t like their coffee much.
I avoided chipotle after the food safety issues but tried it after he said he fixed it. I go 1-2 a month now