Starbucks hires Chipotle's Niccol as its sixth CEO

(Reuters) - Starbucks (NASDAQ:SBUX ) on Tuesday named Chipotle Mexican Grill (NYSE:CMG )'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.

Source: Investing.com