(Reuters) – Starbucks on Tuesday named Chipotle Mexican Grill’s 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 1987 to 2000 Schultz took the company
Schultz public in 1992.
Orin 2000 to 2005 Orin was hired as CFO in
Smith 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 March 2005 to Donald was president of the
Donald January 2008 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 January 2008 Schultz returned as CEO for
Schultz to April 2017 a second time with a mandate
to shore up the U.S.
business.
Kevin April 2017 to Johnson, who was on the
Johnson April 2022 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 April 2022 to Schultz returned to lead the
Schultz April 2023 company for the third time,
taking over as interim CEO
and focusing on dealing with
growing unionization at U.S.
cafes.
Laxman April 2023 to Starbucks hired Narasimhan
Narasimh August 2024 from the maker of Lysol
an disinfectants to undertake a
“reinvention”. Stock down
more than 26% during his
time at the helm.
Brian September 2024 Chipotle Mexican Grill’s
Niccol 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)
Comments