Chipotle CEO takes over Starbucks as global CEO
Laxman Narasimhan is stepping down just a year after he took the role.
Brian Niccol has been appointed as the new chairman and CEO of Starbucks.
Niccol will start in his new role on 9 September 2024 whilst Starbucks chief financial officer, Rachel Ruggeri, will serve as interim CEO until then. Mellody Hobson, Starbucks board chair, will become the lead independent director.
Niccol currently serves as Chairman and CEO of Chipotle. Before joining Chipotle, he served as Chief Executive of Taco Bell. Before becoming CEO he held roles including Chief Marketing and Innovation Officer, and President. He also served in leadership roles at Pizza Hut, another division of Yum! Brands. He began his career in brand management at Procter and Gamble.
Niccol will be the fourth CEO appointed by Starbucks in just two years.
Meanwhile, Laxman Narasimhan is stepping down from his role as CEO and as a member of the Starbucks board with immediate effect. Narasimhan was appointed CEO last March 2023.
