SEATTLE — One of the largest companies headquartered in Seattle will have a new leader next month, as Brian Niccol will take over as the new CEO of Starbucks in September.
Niccol replaces Laxman Narasimhan, who served in the role for just over a year. He will step down immediately and current CFO Rachel Ruggeri will serve as interim CEO until Niccol starts.
Here are five things to know about the man taking over the coffee giant on Sept. 9.
Former Taco Bell CEO
Niccol is an experienced CEO in the fast-food world, having led Chipotle since March 2018 and serving as chairman of its board since March 2020. Before Chipotle, Niccol was the CEO of Taco Bell from 2015 to 2018.
Niccol served in executive roles with Taco Bell's parent company Yum! Brands as well as Procter and Gamble.
Midwest educated
Niccol holds a bachelor's degree from Miami University in Ohio and earned an MBA from the University of Chicago's Booth School of Business.
He was a member of the Phi Delta Theta fraternity at Miami University and graduated in 1996, according to the organization's website.
Chipotle's stock spiked under his leadership
According to Starbucks' release, Chipotle's stock rose almost 800% during his time at the helm of the company. When Niccol took over in 2018, the company was navigating an E. coli outbreak. He helped improve the company's digital ordering capabilities and expanded its menu.
Upon the news of Niccol's appointment at Starbucks, the company's stock price was down 12% Tuesday morning. Starbucks, meanwhile, had its stock jump 21% in early trading Tuesday.
Big sports fan
In a recent interview, Niccol said he watches ESPN's Sportscenter almost every night. He also recently pledged a $2 million gift to his alma mater to strengthen its men's basketball program. The gift not only rewards athletes while they are enrolled at the school, but puts money into a fund for those players after they wrap up their college careers.
Serves on Walmart's Board of Directors
In 2024, Niccol joined the board of Walmart alongside numerous other high-ranking corporate executives and senior Walmart leadership. He previously served on the Board of Directors for KB Home and Harley Davidson.