Starbucks has a brand new CEO with a talent for wrapping burritos. The coffee chain announced Tuesday the appointment of Brian Niccol, the 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 working alongside baristas learning the right way to construct the complete drinks menu, his repute was tarnished by conflicts with unions, falling sales, activist investors and even his predecessor as CEO. After Starbucks’ second-quarter performance, which Narasimhan called “disappointing,” Schulz slammed the corporate on LinkedIn, arguing the chain needed to revise its strategy.
“In any company that makes big mistakes, there must be repentance and a renewed focus and discipline on what is essential,” he said. wrote“Admit your failure without even the slightest semblance of an apology.”
Schulz seems more inclined to support his company’s latest CEO, tell Mellody Hobson, the chain’s sixth-largest shareholder, called the hiring of Niccol, who previously served as CEO of Taco Bell, a “bull’s eye.”
Assets met with Niccol in May at a New York Chipotle restaurant to learn more about how the serial C-suite executive spends his day running an organization that drawn in Sales last quarter totaled nearly $3 billion.
Like Narasimhan, Niccol said he hung out with Chipotle kitchen staff early in his profession learning the tools of the trade, especially the right way to wrap the proper burrito.
“Wrapping a burrito is an art; you have to repeat it a few times to make it quick,” he said Assetsbut admitted that he was a “very slow burrito roller” and ate just a few too many tortillas during training.
“You get a real understanding of what it takes to prepare the restaurant, both from the morning prep to how to handle a peak demand and what it takes to close a restaurant,” he said.
Debate over Chipotle portions
The fast-casual chain recently got here under fire from customers who took to social media to criticize the allegedly shrinking portion sizes.
In the May interview with AssetsNiccol said “portions haven’t gotten smaller,” and offered a tip for getting a much bigger bowl: Have employees sneak a peek inside. However, Wells Fargo analyst Zachary Fadem and his team later decided to “settle the ‘weight debate'” by comparing the sizes of 75 burrito bowls and finding that orders were wildly inconsistent.
After Chipotle released its second-quarter ends in July, Niccol addressed the portion size debate, telling investors there was “never a direction to offer our customers less” and promising to make portions more standardized.
“Generous portions are a core brand value of Chipotle,” Niccol said on the conference call. “It always has been that way and it always will be that way.”
With almost a decade of experience as CEO of Fortune 500 Niccol is prepared for a brand new chapter with Starbucks. He said Assets The secret to work-life balance is taking control of your calendar.
“Someone suggested this to me: When you say ‘yes’ to a professional or personal activity, it means ‘yes’,” he said Assetsand added: “You also have to say no to things.”
The CEO, who spends his weekends reading, playing golf or working as an “average photographer”, said Assets an exclusive insight into his day by day routine, which begins early at 5:45 a.m.
Burritos, meetings and the important thing to work-life balance
5:45 am: Niccol starts his morning by reading up on the news of the day, which Wall Street Journal and switched CNBC’s Squawk Box while having fun with his first cup of coffee. He estimates that he drinks three to 4 cups a day.
The manager’s favorite drink is espresso, especially a very good Americano: “Always hot, and if possible, I like to have a biscuit with it.”
7 o’clock: Niccol is preparing for a workout that may involve alternating strength training, weight lifting and “running and walking.”
“I’m 50 and I don’t want to walk too much,” he jokes.
Breakfast normally consists of a shake with fruit, oats, peanut butter and protein powder, but Niccol also varies the menu with eggs and sausages. After eating, Niccol drives his youngest daughter to high school before going to work.
8:30 am: After a 15-minute drive through the scenic countryside of Newport Beach, California, Niccol arrives at Chipotle’s headquarters. He begins his day by checking in along with his assistant to quickly go over meetings and goals.
He spends his first hour answering emails and setting the schedule for the week. At around 10 a.m., Niccol heads to the team’s first staff meeting, where his direct reports report on the present project progress.
“We come together to talk about their respective business areas and their impact on overall performance,” he said.
12 o’clock: At Chipotle headquarters, lunch is a “highlight of the day,” Niccol said. Before you ask: “Of course we have Chipotle.”
However, the manager admits that he doesn’t eat from the grill menu every single day: “If I could, I would, but not every day.”
His favorite order is a bowl of chicken with white rice, fajita veggies, pico de gallo, and a few cheese. His full order also features a barbacoa quesadilla and a side of chips and guacamole.
“This is probably a bit too much food for my age,” he said. “But you know, it’s hard to resist.”
1pm: After lunch, Niccol goes back to his day by day routine: answering phone calls, reading material and preparing for upcoming meetings.
His team then meets for a strategic initiatives meeting, where they again spend several hours discussing the important thing issues they’re working on.
3:30 p.m.: Niccol’s day ends with one-on-one meetings with company managers before he finishes work at around 5:30 p.m.
“I try to end the day with no meetings or phone calls so you can reflect on what happened during the day,” he said. “What do you want to talk about tomorrow? Or are we working on the right things? And are we talking about the right things?”
Before heading home, Niccol takes 20 to half-hour to reflect on the workday and plan goals for the subsequent day.
18:30: Niccol helps his wife, Jennifer, prepare a meal for his family. Around 7 p.m., the family gathers to eat, but due to their busy schedules, “it’s not usually a sit-down dinner,” Niccol said.
“The kids complain about things we didn’t particularly like,” he says. After dinner, Niccol and his wife take their golden miniature Labradoodle, Lucky, for a walk, and their paths often lead along Corona del Mar State Beach.
“Usually a walk with the dog takes about 20 to 30 minutes,” he said. “I could go longer, but he doesn’t want to walk as much anymore.”
9pm: Niccol and his family calm down by watching TV together. Their usual shows include a Netflix series – they recently finished it The gentlemen– or ESPN’s SportsCenter. Lately, they’ve been spending their evenings watching his youngest daughter’s favorite show: Modern Family.
“I feel like I’ve seen them all again,” he said. “I think we’re on season 10 or 11. It’s a fun show.”
After relaxing along with his family, the CEO normally goes to bed at 10 p.m. and turns off the lights.
