Speciality coffee retailer Caribou Coffee has announced the appointment of Scott Kennedy, the company’s chief financial officer, as interim CEO.
Kennedy will take over from John Butcher, who is stepping down from his role as president and CEO, on 14 March 2025.
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The transition comes as the company seeks to find a permanent CEO, considering both internal and external candidates.
The appointment is part of a planned leadership transition, with Butcher remaining in an advisory role until the end of May to ensure a smooth handover.
Kennedy’s deep understanding of Caribou Coffee’s operations, gained since joining the company in 2019, will be instrumental during this interim period.
Before his tenure at Caribou Coffee, Kennedy spent 14 years at the Target Corporation, with the last six as financial and retail services president.
His career also includes a tenure at KPMG, where he was a partner for two years.
Caribou Coffee chairman Konrad Meyer said: “I want to thank John for his leadership over the last nearly eight years, as his commitment to providing a best-in-class customer experience and building a strong team-oriented culture at Caribou positioned the company well for the future.
“The board looks forward to working with John and Scott during this transition as we set our sights on accelerating growth across North America and internationally.”
Caribou Coffee serves high-quality handcrafted beverages and food in more than 800 coffeehouses globally.
As of 31 December 2024, it had 335 company-owned, 140 non-traditional and 361 franchised coffeehouses in 11 countries.
In July 2024, Caribou opened a new location in Mooresville, North Carolina.
