Starbucks appoints new chief executive

Starbucks has appointed Brian Niccol as its chairman and chief executive.

Due to take up his position on 9 September, he will succeed Laxman Narasimhan who has stepped down as chief executive and as a Starbucks board member.

In the meantime, Starbucks chief financial officer, Rachel Ruggeri, will serve as interim chief executive while Starbucks chair Mellody Hobson will become lead independent director.

Niccol currently serves as chairman and chief executive of the Chipotle restaurant chain where he has been credited with transforming the business through a focus on people and culture, brand, menu innovation, operational excellence, and digital transformation.

In addition, revenue has nearly nearly doubled and profit has increased almost seven-fold during his tenure.

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 currently serves on the board of directors of Walmart Inc. and previously served on the board of KB Home and Harley-Davidson.