Starbucks Names Chipotle CEO Brian Niccol as New Chairman and CEO

Niccol to Take Over Struggling Coffee Chain on September 9

By Benjamin Rasmussen for The New York Times

SEATTLE, August 13, 2024 -- Starbucks (NASDAQ: SBUX) today announced that Brian Niccol has been appointed chairman and chief executive officer (CEO), effective September 9, 2024.

Niccol, who has held the top position at Chipotle since 2018, will replace interim CEO Howard Schultz, who has been serving in the role since former CEO Kevin Johnson stepped down in April 2022.

Starbucks has been facing a number of challenges in recent years, including declining sales, increased competition, and labor shortages. The company is hoping that Niccol, who is credited with turning around Chipotle, can help it regain its footing.

"Brian is a proven leader with a track record of success in the restaurant industry," said Mellody Hobson, Starbucks chair of the board. "We are confident that he has the skills and experience to lead Starbucks into the future."

Niccol said he is "honored" to be named CEO of Starbucks.

"Starbucks is an iconic brand with a strong foundation," he said. "I am excited to work with the team to build on the company's legacy and create a brighter future for Starbucks."