Starbucks hires Chipotle's Niccol as its sixth CEO
Aug 13 (Reuters) -Starbucks SBUX.O on Tuesday named Chipotle Mexican Grill's CMG.N Brian Niccol as its new CEO, replacing Laxman Narasimhan, who was at the helm for close to a year and a half, the shortest span for a top boss at the global coffee chain.
Niccol will become only the sixth CEO at the company over its 50-plus-year history, with founder Howard Schultz leading the company for 23 years in three separate stints and helping to create a behemoth in the fast-food industry.
Here is a timeline on CEOs at the company over the years:
CEO | Tenure | |
Howard Schultz | 1987 to 2000 | Schultz took the company public in 1992. |
Orin Smith | 2000 to 2005 | Orin was hired as CFO in 1990 and was named CEO in 2000. Under his leadership, Starbucks went from 45 stores to over 10,000 locations in 33 countries. Stock climbed more than 130% during his tenure. |
Jim Donald | March 2005 to January 2008 | Donald was president of the company's North American division for three years before being named CEO. He was ousted in 2008. The stock declined nearly 29% during his time. |
Howard Schultz | January 2008 to April 2017 | Schultz returned as CEO for a second time with a mandate to shore up the U.S. business. |
Kevin Johnson | April 2017 to April 2022 | Johnson, who was on the Starbucks board since 2009 and was named its COO in March 2015, led the coffee chain for five years. He steered the company through the pandemic before retiring in 2022. During his tenure, the stock gained 56%. |
Howard Schultz | April 2022 to April 2023 | Schultz returned to lead the company for the third time, taking over as interim CEO and focusing on dealing with growing unionization at U.S. cafes. |
Laxman Narasimhan | April 2023 to August 2024 | Starbucks hired Narasimhan from the maker of Lysol disinfectants to undertake a "reinvention". Stock down more than 26% during his time at the helm. |
Brian Niccol | September 2024 | Chipotle Mexican Grill's head Niccol named new CEO in a management shakeup, tasking an executive known for reviving the burrito chain to lead a turnaround. |
Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Sriraj Kalluvila
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