Seattle — Starbucks has appointed Brian Niccol to chairman and chief executive officer. He will start in his new role on September 9, 2024. Rachel Ruggeri, chief financial officer of Starbucks, will serve as interim CEO until that time. Mellody Hobson, Starbucks board chair, will become lead independent director.
Niccol currently serves as chairman and CEO of Chipotle. Since becoming CEO in 2018, Niccol has transformed Chipotle, focusing on people and culture, brand, menu innovation, operational excellence and digital transformation.
“We are thrilled to welcome Brian to Starbucks. His phenomenal career speaks for itself. Brian is a culture carrier who brings a wealth of experience and a proven track record of driving innovation and growth. Like all of us at Starbucks, he understands that a remarkable customer experience is rooted in an exceptional partner experience,” says Hobson. “Our board believes he will be a transformative leader for our company, our people and everyone we serve around the world.”
Laxman Narasimhan is stepping down from his role as CEO and as a member of the Starbucks board with immediate effect. During his tenure, he improved the Starbucks partner experience, drove significant innovation in our supply chain and enhanced its store operations.
“On behalf of the board, I want to sincerely thank Laxman for his contributions to Starbucks, and his dedication to our people and brand,” says Hobson. “In the face of some challenging headwinds, Laxman has been laser focused on improving the business to meet the needs of our customers and partners. We all wish him the very best and know he will do great things in the future.”
Niccol joined Chipotle as CEO and a director in March 2018, and became chairman of the board in March 2020. Before joining Chipotle, he served as chief executive of Taco Bell. He also served in leadership roles at Pizza Hut, another division of Yum! Brands.
“Having followed Brian’s leadership and transformation journey at Chipotle, I’ve long admired his leadership impact. His retail excellence and track record in delivering extraordinary shareholder value recognizes the critical human element it takes to lead a culture and values driven enterprise. I believe he is the leader Starbucks needs at a pivotal moment in its history. He has my respect and full support,” says Howard Schultz, Starbucks founder and chairman emeritus. “I thank Mellody and the Starbucks board for their deep commitment to shaping the future of this remarkable global phenomenon that is Starbucks.”
Founded in 1971, Seattle-based Starbucks Coffee Company has more than 39,000 stores worldwide. www.starbucks.com.
SOURCE: Starbucks Corporation