Starbucks Appoints Brian Niccol As Chairman And CEO
Starbucks has announced the appointment of Brian Niccol as Chairman and Chief Executive Officer (CEO), effective September 9, 2024. Until then, Starbucks Chief Financial Officer (CFO) Rachel Ruggeri will serve as interim CEO, while Mellody Hobson, currently the board chair, will assume the role of lead independent director.
Niccol, Chairman and CEO of Chipotle, has significantly transformed the company since he took the helm in 2018. His leadership has brought remarkable growth to Chipotle, nearly doubling revenue, increasing profits sevenfold, and boosting the stock price by nearly 800%. Niccol’s emphasis on people and culture, brand innovation, menu development, operational excellence, and digital transformation has set industry standards and delivered substantial value. During his tenure, he has also improved wages for retail staff, expanded benefits, and reinforced company culture.
Laxman Narasimhan will step down immediately as CEO and board member of Starbucks. His tenure was marked by enhancements in partner experience, supply chain innovation, and store operations.
Niccol holds an undergraduate degree from Miami University and an MBA from the University of Chicago Booth School of Business.