Brian Niccol will join Starbucks on September 9, 2024, as its new CEO. After one year in the role, Laxman Narasimhan is stepping down as CEO and as a director effective immediately. In the meantime, Rachel Ruggeri, CFO, will serve as interim CEO. Mellody Hobson, Starbucks board chair, will become lead independent director.
Niccol currently serves as Chairman and CEO of Chipotle. In his tenure, he helped nearly double revenues and increase profits sevenfold, since 2018.
“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,” said Hobson. “Our board believes he will be a transformative leader for our company, our people, and everyone we serve around the world.”
“I am excited to join Starbucks and grateful for the opportunity to help steward this incredible company, alongside hundreds of thousands of devoted partners,” said Niccol. “I have long-admired Starbucks iconic brand, unique culture and commitment to enhancing human connections around the globe. As I embark upon this journey, I am energized by the tremendous potential to drive growth and further enhance the Starbucks experience for our customers and partners, while staying true to our mission and values.”
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 our 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,” said 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.”
Photo: Starbucks
