New Delhi: Starbucks revealed a significant shift in its leadership, naming Brian Niccol, the current CEO of Chipotle Mexican Grill, as its new Chairman and CEO on Tuesday. This announcement comes less than a year after Laxman Narasimhan assumed the role. Niccols appointment marks a notable transition for the company, with the official changeover set for September 9, 2024.Until Niccol steps into his new role, Starbucks Chief Financial Officer, Rachel Ruggeri, will serve as the interim CEO. Additionally, Mellody Hobson, the current board chair, will take on the role of lead independent director. The companys press release outlined these changes, stating, “Niccol will start in his new role on September 9, 2024. Starbucks Chief Financial Officer, Rachel Ruggeri, will serve as interim CEO until that time. Mellody Hobson, Starbucks board chair, will become lead independent director.”Who is Brian NiccolBrian Niccol began his tenure at Chipotle as Chief Executive Officer and Director in March 2018.He was appointed Chairman of the Board in March 2020. Before Chipotle. Niccol served as the Chief Executive Officer of Taco Bell, where he held several key positions, including Chief Marketing and Innovation Officer and President. Niccols background and achievementsNiccol also has experience from his roles at Pizza Hut, another Yum! Brands division, and began his career in brand management at Procter & Gamble. Currently, he serves on the board of Walmart Inc. and has previously been a board member of KB Home and Harley-Davidson. Niccol earned his undergraduate degree from Miami University and completed his MBA at the University of Chicago Booth School of Business.Niccols vision for StarbucksStarbucks expressed strong confidence in Niccols ability to lead the company through transformation. In a blog post, the company highlighted their belief in Niccols potential, stating, “Our board believes he will be a transformative leader for our company, our people, and everyone we serve around the world.” Niccol himself conveyed his enthusiasm about joining Starbucks, saying, “I am excited to join Starbucks and grateful for the opportunity to help steward this incredible company, alongside hundreds of thousands of devoted partners.”
