Photo credit: Starbucks

Starbucks has announced that Brian Niccol, the current Chairman and CEO of Chipotle, will be taking over as the new chairman and chief executive officer of Starbucks. Starting September 9, 2024, Niccol will officially don the Starbucks apron, ready to steer the coffee giant into its next chapter. Until then, the company’s Chief Financial Officer, Rachel Ruggeri, will step in as interim CEO. Meanwhile, Mellody Hobson, Starbucks’ board chair, will transition into the role of lead independent director.

Niccol isn’t just any new hire; he’s a powerhouse leader who transformed Chipotle since he took the reins in 2018. Under his leadership, Chipotle saw a near doubling of revenue, a sevenfold increase in profits, and an 800% surge in stock price. He’s known for his knack for people and culture, innovation, and digital transformation—areas where Starbucks is eager to see fresh ideas and energy.

“We are thrilled to welcome Brian to Starbucks,” said Hobson. “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.”

Niccol echoed the enthusiasm, saying, “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 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.”

This leadership shift comes as Laxman Narasimhan steps down from his role as CEO and leaves the Starbucks board effective immediately. During his tenure, Narasimhan made significant strides in improving the partner experience and innovating supply chain and store operations. Hobson expressed deep gratitude for Narasimhan’s contributions, noting his focus and dedication during challenging times.