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Aug. 13 (UPI) -- Starbucks announced Tuesday that Chipotle chairman and CEO Brian Niccol will become its new chair and CEO next month. Niccol brings a wide range of leadership experience to Starbucks, after also serving as CEO of Taco Bell and in a leadership role at Pizza Hut. Starbucks chief financial officer Rachel Ruggeri will act as interim CEO until Niccol comes on board and current chair Mellody Hobson will become lead independent director.
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Laxman Narasimhan, who has served as Starbucks's CEO since March 2023, will leave the position "with immediate effect," according to Starbuck's statement.
"I am excited to join Starbucks and grateful for the opportunity to help steward this incredible company, alongside hundreds of thousands of devoted partners," Niccol said in a statement released by Starbucks.
"I have long-admired Starbucks iconic brand, unique culture and commitment to enhancing human long-admired Starbucks iconic brand, unique culture and commitment to enhancing human connections around the globe."
Niccol joined Chipotle in 2018 and became chair of its board of directors in 2020. He held various positions with Taco Bell, including chief marketing and innovation officer, and president before becoming CEO. He also served in brand management at Proctor and Gamble.
He currently serves on the board of Walmart Inc. and previously served on the board of KB Homes and Harley-Davidson.
"His phenomenal career speaks for itself," Hobson said. "Brian is a culture carrier who brings a wealth of experience and a proven track record of driving innovation and growth.
"Like all of us at Starbucks, he understands, that a remarkable customer experience is rooted in an exceptional partner experience. Our board believes he will be a transformative leader for our company, our people and everyone we serve around the world."
