Starbucks Appoints Brian Niccol as New Chairman and CEO

Effective Leadership Transition

Seattle, August 13, 2024

Starbucks Corporation (NASDAQ: SBUX) has announced the appointment of Brian Niccol as its new Chairman and Chief Executive Officer. As of today, Niccol will assume responsibility for leading the global coffeehouse chain.

Niccol brings a wealth of experience to his new role. Having previously served as CEO of Chipotle Mexican Grill, he successfully steered the company through a period of growth and turnaround. His expertise in the fast-food industry is expected to guide Starbucks' efforts to enhance its operational efficiency and customer experience.

The appointment comes as Starbucks faces increased competition in the coffee market. Niccol's ability to drive innovation and adapt to changing consumer preferences will be crucial in maintaining the company's market position. The Board of Directors expressed confidence in Niccol's ability to lead Starbucks into the future, noting his strong track record and strategic vision.