2018

Stories related to "This Is Working For Me."

perspectives

Inside Chipotle with CEO Brian Niccol

When Brian Niccol, ’03, took the reins at Chipotle in 2018 from founder Steve Ells, he brought with him a stellar industry reputation from his time at Yum! Brands, including a stint as CEO of Taco Bell, and senior posts at Procter & Gamble Co. He quickly delighted fans, pulling off a remarkable turnaround of the beleaguered brand through new, innovative ideas in its 2,500-plus stores. For one, Niccol turned off-premises ordering into a reality through new digital offerings, increasing revenue roughly $500 million in one year. “It’s a dramatic change,” said Niccol. Investors are taking notice, with the company’s stock growing by 40 percent in 2018 and hitting an all-time high this August. "It’s time to reshape fast casual. In the restaurant industry, you are seeing a big change in where and how people want to access their restaurant experience. We’ve provided customers with the ability to do that in different ways. The more you can make your brand more accessible without compromising the culinary experience and ingredients, the better. The biggest example is that we’ve created a digital sales system. Two years ago, it made up less than 5 percent of our business; today it’s over 18 percent. Even in the last quarter, digital ordering brought in $262 million of revenue, which is more than that entire business did in all of 2016. We’re giving diners a thought-out experience. When people order through the app, they can walk into the restaurant and grab and go, or get delivery. We put in a separate digital makeline so our team members can handle all of the orders coming in off premises. We don’t want those ordering via digital to affect the restaurant service line."

perspectives

This is Working for Me: Sandra Stark, ’95

Fifteen years ago, Sandra Stark, ’95, went west to Seattle to Starbucks Coffee Company, where she worked with three others in new ventures, a group that behaved like a VC firm: buying Tazo Tea, introducing the Starbucks Card, and looking for other growth opportunities. She wasn’t managing a huge slice of the company’s total $22.4 billion business, as she does these days as a senior vice president managing the global product organization, but it gave her a first glimpse of the fast-growing company’s equitable culture. It’s this culture, she says, that informs “what we do and how we treat people—farmers, suppliers, partners in stores, customers—along the way. It permeates everything we do, it sets the tone, and it helps answer many, many questions. It’s our true north and it’s why I’ve been here 15 years.” A native of Waukesha, Wisconsin, and mother of three tweens, Stark recharges with her kids: skiing and playing tennis and basketball. “I have everything I could wish for in my life. Every single day I think, ‘I am so lucky to have this job.’” Coffee is the heart and soul of our business. Product is my responsibility: beverages, food, merchandise. It starts with coffee and expands from there. What’s the strategy? What’s the right portfolio? What’s the innovation? How are we staying ahead? Currently new to the mix are our Blonde Espresso, made with lightly roasted beans; nitrogen-infused cold brew, which is less acidic and richer tasting; and Teavana Tea Infusions. With merchandise, we’re thinking, what do our customers need to create the right coffee experience at home?

perspectives

This Is Working for Me: Martin Nesbitt, ’89

Entrepreneur and civic leader Martin Nesbitt, ’89, is five years into his latest co-venture, Chicago-based Vistria Group, a $1.7 billion private equity firm that invests at the intersection of public and private sectors in healthcare, education, and financial services. Before that, he was CEO and cofounder of the Parking Spot, the first nationally branded airport parking company, which has grown into a business worth more than $1 billion. The public good is always on his plate: he was recently named to the transition team for newly elected Illinois governor J. B. Pritzker; he’s chairman of the Obama Foundation; and he served on the board of the Chicago Housing Authority. Dubbed “the first friend,” Nesbitt raised funds and weathered the campaign trail from the very beginning of former president Barack Obama’s political career. Said Nesbitt: “Going to the White House never got old: it was awe-inspiring every time.” According to Nesbitt: "The one thing I bring to business and civics: 'It’s not about me.' It’s about the capacity to put the interests of others (the institution, the company, and the people) ahead of my own. People empower you with leadership opportunities when they trust that you have their best interest in mind. That’s what leads to success, and it’s one of the fundamentals of Vistria, the firm I started with my partner, Kip Kirkpatrick. We thought to ourselves, 'What if we started a firm that’s not about us? What if it’s about Us—our partners, our investors, our portfolio of companies, and their employees?' We thought there was a value proposition at the intersection of private and public interest, in doing the right thing for the broader community. For example, we bought an online high-school completion program for adults. There’s a skills gap in this country—we have people who are undereducated and undertrained. Our investment serves the students, the corporate community, and our broader society. That company fits squarely into Vistria’s mission."