Niccol will succeed Laxman Narasimhan, who will step down immediately from his role as CEO and as a Starbucks board member. Credit: © Starbucks Corporation.

American coffee chain giant Starbucks has appointed Brian Niccol, departing chairman and CEO of Chipotle Mexican Grill, as its new chairman and CEO. 

Niccol will succeed Laxman Narasimhan, who will step down immediately from his role as CEO and as a Starbucks board member.  Narasimhan helped the improvement of partner experience and store operations during his time in the role.  

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Niccol, recognised for his transformative leadership at Chipotle, will assume his new role at Starbucks on 9 September 2024.

Rachel Ruggeri, Starbucks’ chief financial officer, will serve as interim CEO until Niccol’s arrival.  

Mellody Hobson, currently the board chair, will take on the role of lead independent director.  

Niccol’s tenure at Chipotle saw revenue almost double and profits increase sevenfold, alongside an 800% rise in the company’s stock value.  

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He focused on driving digital transformation and menu innovation while expanding benefits for the brand and team members.  

Niccol said: “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.” 

Starbucks founder and chairman emeritus Howard Schultz said: “Having followed Brian’s leadership and transformation journey at Chipotle, I’ve long admired his leadership impact. His retail excellence and track record in delivering extraordinary shareholder value recognise the critical human element it takes to lead a culture and values-driven enterprise.  

“I believe he is the leader Starbucks needs at a pivotal moment in its history. He has my respect and full support.” 

Following Niccol’s departure, Chipotle has named Scott Boatwright, its current chief operating officer, as its interim CEO.  

Boatwright has been a key figure in managing operations across Chipotle’s extensive network of employees and restaurants.  

Jack Hartung, who will retire from Chipotle in 2025, has agreed to stay on indefinitely as strategy, finance and supply chain president to support Boatwright and oversee strategic functions, alongside finance vice-president Adam Rymer and supply chain global head Carlos Londono. 

Chipotle’s lead independent director Scott Maw has been appointed as the new chairman of its board, with immediate effect.