As David Hoffmann takes over as CEO of Dunkin’ Brands, he has one goal — continue modernizing the 68-year-old coffee and doughnut company to keep its iconic brand relevant amid stiff competition from other national chains and local coffee shops.
The trick, he said, is delivering high-quality coffee fast to customers who don't want to pay more for their cup of Joe.
“Relevance is at the heart of what we are trying to do. Brands that stay narrow in their lane do their best. On the Dunkin side, that is great coffee, fast. It’s our sweet spot,” Hoffmann told CNBC on the heels of the company’s announcement Wednesday that CEO Nigel Travis, who took the company public in 2011 and has been with the brand for nearly a decade, was stepping down effective immediately.
Travis will stay on board as executive chairman and will remain actively involved with a focus on expanding Dunkin's international business. Hoffmann, who joined Dunkin′ Donuts U.S. as president in 2016, will continue in that role as well. He was previously at McDonald's for 22 years, starting as a crew member in high school and eventually becoming president of the company’s high-growth international division. The two men have worked closely together over the past two years, meeting weekly at Travis’ home, with Hoffmann looking to Travis as a “partner and mentor.”