Starbucks has announced the appointment of Brian Niccol as its new Chief Executive Officer (CEO), replacing Laxman Narasimhan. Niccol is currently the head of Chipotle Mexican Grill and will assume his position on September 9.

As Narasimhan is stepping down from his position, the company’s CFO, Rachel Ruggeri will act as interim CEO.

A press release from Starbucks said, “Niccol will start in his new role on September 9, 2024. Starbucks’s Chief Financial Officer, Rachel Ruggeri, will serve as interim CEO until that time. Mellody Hobson, Starbucks board chair, will become lead independent director.”

Niccol expressed his excitement and gratitude for this opportunity that will help him oversee Starbucks along with its large pool of partners. Chairperson of Starbucks, Mellody Hobson, thanked Narasimhan for his contributions to the company during his stint.

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CEO and director of Chipotle, Niccol has worked with companies like Taco Bell, Pizza Hut and Yum! Brands division. He is also a board member of Walmart Inc. He has an undergraduate degree from Miami University and an MBA from the University of Chicago Booth School of Business.

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