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.