On Tuesday, Starbucks announced that chairman and CEO Laxman Narasimhan would be replaced by Brian Niccol, the current head of Chipotle Mexican Grill. This development comes less than a year after Narasimhan took charge.
Starbucks announced that Niccol will formally begin his new role on September 9, with the company’s CFO, Rachel Ruggeri, serving as interim CEO until then.
Niccol to take over as CEO from September 9, 2024
“Niccol will start in his new role on September 9, 2024. Starbucks chief financial officer, Rachel Ruggeri, will serve as interim ceo until that time. Mellody Hobson, Starbucks board chair, will become lead independent director,” said a press release from Starbucks.
In a blog post, the firm highlighted its belief in Niccol’s ability to drive transformation, saying, “Our board believes he will be a transformative leader for our company, our people, and everyone we serve around the world.”
Niccol expressed his enthusiasm at joining Starbucks, 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.”
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“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 Mellody Hobson, Chairperson of Starbucks, in the release. .
Who is Brian Niccol?
Niccol joined Chipotle as Chief Executive Officer and Director in March 2018, and was appointed Chairman of the Board in March 2020.
Prior to joining Chipotle, he was the CEO of Taco Bell, where he had held positions such as Chief Marketing and Innovation Officer and President.
Niccol is currently a board member at Walmart Inc., having previously served on the boards of KB Home and Harley-Davidson. He received his undergraduate degree from Miami University and his MBA from the University of Chicago Booth School of Business.
