Starbucks is poised for significant change as Brian Niccol takes the helm as chairman and CEO, effective September 9. This decision comes after the immediate exit of Laxman Narasimhan, with CFO Rachel Ruggeri stepping in temporarily. Niccol joins Starbucks following a successful tenure at Chipotle, where he spearheaded a transformation that saw profits nearly quintuple during his six years as CEO.

Mellody Hobson, current Board Chair, expressed optimism about Niccol’s leadership qualities. “His proven track record in driving innovation and growth will be pivotal for us,” she stated. This change in leadership is particularly crucial as Starbucks faces challenges, evidenced by a 3% decline in comparable store sales in Q3.

Niccol’s ascent at Starbucks aligns with his extensive background. Starting in brand management at Procter & Gamble, he later held key roles at Taco Bell, where he progressed from chief marketing officer to CEO. His experience extends into retail leadership as a board member at Walmart, further reinforcing his qualifications.

Howard Schultz, founder and chairman emeritus, also backed Niccol, recognizing his impact in creating shareholder value. He noted, “Brian understands the human element critical to leading a values-driven enterprise.” The transition comes at a strategic moment as Starbucks rolls out its fall products, including the much-anticipated Pumpkin Spice flavored coffees, aiming to boost revenue amid recent sales declines.

Starbucks is counting on Niccol’s innovative approach and operational acumen to refresh its brand and enhance customer experiences during this pivotal period.