Starbucks appoints Chipotle boss as new CEO

Starbucks has announced the appointment of Brian Niccol to the role of chairman and CEO, effective from 9 September this year. 

The news comes as Laxman Narasimhan is stepping down from his role as CEO and as a member of the board with immediate effect. 

In the meantime, CFO Rachel Ruggeri will serve in the role in an interim capacity, while board chair Mellody Hobson will become lead independent director. 

Niccol currently serves as chairman and CEO of Chipotle and has been in the role since 2018, in which time he has been credited with transforming the fast food chain’s people and culture, brand, menu, operational excellence and digital transformation. 

His leadership also led to revenues almost doubling, profits increasing sevenfold, and the stock price rising by nearly 800% during his tenure, all while increasing wages for retail team members and expanding benefits. 

Hobson 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. 

“Our board believes he will be a transformative leader for our company, our people, and everyone we serve around the world.” 

Niccol added: “I am excited to join Starbucks and grateful for the opportunity to help steward this incredible company, alongside hundreds of thousands of devoted partners. 

“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 energised 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.”