Starting September 9, 2024, Brian Niccol as chairperson will work at Starbucks. Lead independent director will be Mellody Hobson. With immediate impact, Laxman Narasimhan has stepped down from both his duties as CEO and director. The interim CEO will be Rachel Ruggeri.
Seattle-Brian Niccol as chairperson & chief executive officer of Starbucks (NASDAQ: SBUX), the company stated today. Brian Niccol as chairperson new position will take effect on September 9, 2024. Until then, Rachel Ruggeri, Starbucks’ financial officer, will take over as temporary CEO. The lead independent director of Starbucks will be Mellody Hobson, the chair of the board.
At present, Niccol leads Chipotle as Brian Niccol as chairperson and CEO. Ever since assuming over as CEO in 2018, Niccol has changed Chipotle. His emphasis on the human aspect of the their company, menu innovation, performance improvement, and online transformation has significantly increased growth and created value for the restaurant business while setting new industry standards. Under his guidance, the retail team members’ pay have increased, benefits have expanded, and the company culture has been strengthened. Revenue was almost doubled, profitability have nearly tripled, and the share price has nearly soared by 800%.
We are delighted to have Brian join Starbucks. His great career is obvious. With an extensive range of expertise and an extensive history of encouraging creativity and expansion, Brian is a cultural carrier. Similar to all of us here at Starbucks, he is aware that an outstanding partner experience is the foundation of a spectacular customer experience, according to Hobson. The board is confident that he will lead our organization, our staff members, as well as everyone we serve globally in a transformative way.
Niccol acknowledged his excitement about joining Starbucks and expressed his appreciation for the opportunity to work with a vast number of dedicated supporters to manage this amazing organization. “I have always respected Starbucks’ recognizable brand, unique culture, and devotion to promoting human ties worldwide. The immense opportunity to motivate development and improve the Starbucks experience for our partners and customers while adhering to our vision and values excites me as I set out on this path.
Effective immediately, Laxman Narasimhan is resigning from both his position as CEO and the Starbucks board. Throughout his time there, he advanced the shop’s activities, pushed substantial technology in the supply chain, and increased the Starbucks customer experience.
I would want to express my profound gratitude to Laxman on on behalf of the board of directors for his efforts to Starbucks and his loyalty towards our people and brand,” Hobson added. “Despite some difficulties, Laxman has been totally committed to growing the company in order to satisfy our partners’ and client requirements. We all hope the best for him and are confident he will achieve amazing things in the future.
In March 2018, Brian Niccol as chairperson started working at Chipotle as its director and president and CEO. In March 2020, he was elected Brian Niccol as chairperson of the board. He was Taco Bell’s the president before coming to Chipotle. Prior to assuming the helm as CEO, he served as President & Chief Marketing and Innovations Officer. He holds executive positions at Yum! Brands’ other division, Pizza Hut. At Procter and Gamble, he started his professional life in brand management.
In March 2018, Niccol became a director and chief executive officer of Chipotle. In March 2020, he was appointed chairman of the board. He was the CEO of Taco Bell prior to joining Chipotle. He served as President, Chief Marketing and Innovation Officer, and CEO before taking the helm. Additionally, he held executive positions at Yum! Brands’ Pizza Hut. He started out at Procter and Gamble as a brand manager.
At present, Brian Niccol as chairperson is a member of Walmart Inc.’s board of directors. He has previously been on the boards of Harley-Davidson as well as KB Home. Niccol graduated from Miami University with a bachelor’s degree and attended the University of the Chicago Booth School of Management with an MBA.
I have long appreciated Brian’s leadership influence and have followed his journey of development and leadership at Chipotle. His reputation for excellence in retail and his ability to generate exceptional shareholder value demonstrate how important people are to the success of a company that is driven by values and culture.
He is, in my opinion, the leader Starbucks needs at this critical juncture in its development. He has my respect and entire support,” said Howard Schultz, Starbucks founder and chairman emeritus. “I express my gratitude to Mellody and the Starbucks leadership for their unwavering dedication to guiding the future of this remarkable worldwide success that is Starbucks.
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