USA- Multinational coffee house and roaster reserve chain Starbucks has appointed outgoing Chipotle CEO Brian Niccol as its new Chairman and CEO, effective September 9.
The company’s CFO, Rachel Ruggeri will temporarily serve as CEO until the appointment takes effect.
Niccol replaces Laxman Narasimhan, who recently stepped down as CEO and member of the coffeehouse chain’s board.
Niccol previously served as Chipotle’s CEO and Chairman since 2018. He is lauded for setting new standards in the food service industry through his focus on people, brand, organization culture, operation excellence, menu innovation and digital transformation.
This strategy has driven significant growth and value creation for Chipotle. Since his ascent to CEO, the fast restaurant chain’s revenues have doubled, profits have increased seven folds while the stock price has increased by 800%.
Niccol also facilitates an increase in wages for retail employees and expanding benefits.
He handed his resignation to the fast-casual restaurant chain barely a day after he was formally appointed Starbucks CEO.
He also served as Taco Bell’s CEO prior to his tenure at Chipotle. He also served in various leadership roles at Yum! Brands.
Starbucks welcomed the move, praising Niccol’s experience and proven success in the food and beverage industry. The coffeehouse chain cited an alignment between his leadership style and the company’s overall growth strategy.
Mellody Hobson, Chairman of Starbucks’ Board of Directors, said, “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.”
The new CEO also welcomed the move, acknowledging Starbucks’ growth potential and longevity in the industry.
Niccol said, “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.”
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