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Brian Niccol

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Brian R. Niccol
Niccol in 2023
Born (1974-08-16) August 16, 1974 (age 50)[citation needed]
Orange County, California, U.S.[citation needed]
NationalityAmerican
EducationMiami University (BA)
University of Chicago (MBA)
OccupationCEO of Chipotle (until August 31, 2024)

Brian R. Niccol is an American businessman and the incoming chief executive officer of Starbucks, a role which he will assume on September 9, 2024, replacing Laxman Narasimhan. He previously served as chairman and CEO of Chipotle until August 31, 2024.[1][2][3]

Education

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Niccol went to Miami University to study engineering. However, a marketing class piqued his interest, causing him to take several elective courses in business.[4] Niccol graduated from Miami University in 1996. He also has an MBA from the University of Chicago's Booth School of Business.[5][6]

Career

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Procter & Gamble, Pizza Hut (1996–2011)

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Niccol started his career in brand management at Procter & Gamble.[7] At P&G, he spent two years as a brand manager for ThermaCare, then moved to represent Pringles in December 2002.[8]

In 2005, Niccol moved into the restaurant industry by joining Yum! Brands as a vice-president of strategic marketing.[9][10] He led a research study that identified fathers as important customer segments, helping to reignite sales at Yum's Pizza Hut brand and improving the chain's market share by an additional point.[11] Two years later, he was appointed the chief marketing officer (CMO) of Pizza Hut.[7][12]

One of Niccol's primary challenges at Pizza Hut was helping the restaurant chain navigate the Great Recession.[13] Throughout his tenure, Niccol introduced initiatives to help Pizza Hut's digital marketing. In January 2008, the pizza chain introduced the option for customers to use their mobile phone to place orders via text message or through their website.[14] A year later, Pizza Hut released a mobile app on the iPhone, enabling customers to make meal orders remotely.[15][16] After just two weeks, the app was downloaded 100,000 times from the App Store,[17] and within three months generated $1 million in sales.[18] Pizza Hut announced in October 2010 that they would be partnering with Foursquare to reward loyal customers with free breadsticks.[19]

Less successfully, Pizza Hut briefly experimented with a new logo simply called "The Hut" throughout the first half of 2009. This was eventually retracted after poor public reception.[20][21] Niccol said that the truncated name "ties in nicely with [today's] texting generation", explaining that the company wanted to make the phrase "common vernacular" for Pizza Hut.[22]

Taco Bell (2011–2018)

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In October 2011, Taco Bell named Niccol their new chief marketing and innovation officer. Niccol joined Taco Bell during a time when sales had stagnated.[23] The brand had spent millions of dollars to fight a class action lawsuit regarding the quality of its beef.[24] While the lawsuit was dismissed, Taco Bell sales dropped 5% in Q2 2011, which the company attributed to damaged consumer perceptions of its food.[25] In January 2012, the brand introduced a breakfast menu, as well as a more upscale "Cantina Bell" menu to compete against fast-casual restaurants like Chipotle Mexican Grill.[26] These plans helped reverse Taco Bell's fortunes, with the company posting an 8% increase in fiscal year 2012.[27]

On January 1, 2015, Niccol was promoted to chief executive officer (CEO) of Taco Bell.[28] He presented an ongoing plan for Taco Bell to be appealing to Millennials and future generations.[27] Niccol led a successful turnaround effort at Taco Bell as CEO.[29]

Chipotle Mexican Grill (2018–2024)

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In 2018, Niccol became the CEO of Chipotle Mexican Grill, replacing founder Steve Ells.[30][31] During his tenure, he helped double Chipotle's revenue while its profits increased almost seven times. The stock price of Chipotle has increased by almost eight times under Niccol. Niccol also increased salaries for Chipotle's retail staff as also expanding employee benefits.[1][32][33]

Starbucks (2024–)

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On August 13, 2024, Niccol was named the incoming chairman and chief executive officer of Starbucks.[32][33][34] Niccol will replace Mellody Hobson as the chairman and Laxman Narasimhan as the CEO.[2] On the day of the announcement, shares of Starbucks gained 24.5%.[34] Niccol will receive a starting salary of $1.6 million and a $10 million starting bonus.[35] He will also receive an additional $75 million in equity grants which are designed to pay out over time and an annual cash incentive opportunity at a target of 225 per cent of his base salary.[35]

Recognitions

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Niccol was on Bloomberg's The Bloomberg 50[36] and Fortune's Businessperson of the Year, both in 2019. He was also on the University of Chicago Booth School of Business's Distinguished Alumni list in 2020 and EatingWell's American Food Heroes list in 2021.[5]

References

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  1. ^ a b "Starbucks names Brian Niccol as Chairman and Chief Executive Officer". starbucks.com. Starbucks. 13 August 2024. Archived from the original on 13 August 2024. Retrieved 14 August 2024.
  2. ^ a b Heeter, Maria; Meyer, Gregory; Fontanella-Khan, James (13 August 2024). "Starbucks ousts chief and appoints Chipotle boss after activist pressure". ft.com. The Financial Times. Archived from the original on 14 August 2024. Retrieved 14 August 2024.
  3. ^ Sirtori, Daniela (13 August 2024). "Starbucks Ousts CEO and Taps Chipotle's Brian Niccol as Boss". bloomberg.com. Bloomberg. Archived from the original on 14 August 2024. Retrieved 14 August 2024.
  4. ^ Rogelberg, Sasha (2024-08-13). "How Starbucks' new CEO Brian Niccol went from fast-food Frankenstein to Chipotle's redeemer". Fortune. Retrieved 2024-08-15.
  5. ^ a b "Meet Niccol Brian, the new CEO of Starbucks: All you need to know". economictimes.indiatimes.com. The Economic Times. 13 August 2024. Archived from the original on 14 August 2024. Retrieved 14 August 2024.
  6. ^ Masunaga, Samantha (2015-07-19). "How I Made It: Taco Bell CEO Brian Niccol". Los Angeles Times. Retrieved 2024-08-15.
  7. ^ a b "Pizza Hut names Niccol CMO". Nation's Restaurant News. 2007-09-20. Retrieved 2024-08-15.
  8. ^ Neff, Jack (2004-02-23). "Care, feeding and building of a billion-dollar brand". Advertising Age. Vol. 75, no. 8. p. 26. ProQuest 208354109. Retrieved 2024-08-15 – via ProQuest.
  9. ^ Kelso, Alicia (2024-08-13). "Brian Niccol's résumé illustrates why he was chosen to lead Starbucks' turnaround". Nation's Restaurant News. Retrieved 2024-08-15.
  10. ^ Taylor, Kate (2019-12-14). "Taco Bell's ex-CEO pulled Chipotle out of its massive downwards spiral — and executives say it's just the beginning of the chain's comeback". Business Insider. Retrieved 2024-08-15.
  11. ^ Macarthur, Kate (2007-07-16). "40 Under 40". Advertising Age. Vol. 78, no. 28. ProQuest 208373887. Retrieved 2024-08-15 – via ProQuest.
  12. ^ York, Emily Bryson (2007-09-20). "Pizza Hut Names Brian Niccol CMO". Ad Age. Retrieved 2024-08-15.
  13. ^ Quinton, Brian (June 2010). "Hot, Fast and Engaged". Chief Marketer. Rockville, Maryland. ISSN 2150-0037. ProQuest 750438161. Retrieved 2024-08-16 – via ProQuest.
  14. ^ "Pizza Hut rolls mobile and text ordering". Nation's Restaurant News. 2008-01-18. Retrieved 2024-08-15.
  15. ^ York, Emily Bryson (2009-07-15). "Pizza Hut First Pizza Chain to Launch iPhone App". Ad Age. Retrieved 2024-08-15.
  16. ^ "Craving Pizza? Just Download the App". ABC News. 2009-07-08. Retrieved 2024-08-15.
  17. ^ Ruggless, Ron (2009-08-03). "Pizza Hut's iPhone ordering app hits 100,000 download mark". Nation's Restaurant News. Retrieved 2024-08-15.
  18. ^ Jones, Calvin; Ryan, Damian (2010-10-07). "When Digital Marketing Actually Works". MIT Technology Review. Retrieved 2024-08-15.
  19. ^ Carr, Austin (2010-08-05). "Who Wants to Be the Mayor of Pizza Hut?". Fast Company. Retrieved 2024-08-15.
  20. ^ Edwards, Jim (2009-06-20). "Pizza Hut Plan to Change Name to "The Hut" Meets With Ridicule". CBS MoneyWatch. CBS News. Retrieved 2024-08-15.
  21. ^ Ruggless, Ron (2009-06-22). "Pizza Hut: No name change". Nation's Restaurant News. Retrieved 2024-08-15.
  22. ^ Wong, Elaine (2009-03-07). "Q&A: How Pizza Hut Is Going After the Over-35 Crowd". Brandweek. Adweek. Archived from the original on 2009-05-13. Retrieved 2024-08-15.
  23. ^ Brandau, Mark (2011-10-14). "Taco Bell names new CMO". Nation's Restaurant News. Retrieved 2024-08-15.
  24. ^ Barclay, Eliza (2011-04-19). "With Lawsuit Over, Taco Bell's Mystery Meat Is A Mystery No Longer". NPR. Retrieved 2024-08-15.
  25. ^ "Taco Bell still hurting from beef quality lawsuit". Reuters. 2011-07-14. Retrieved 2024-08-16.
  26. ^ Hsu, Tiffany (2012-01-20). "Taco Bell trying 'First Meal' breakfast and fresh 'Cantina' menus". Los Angeles Times. Retrieved 2024-08-16.
  27. ^ a b Jennings, Lisa (2015-03-24). "Taco Bell CEO: 2015 plans include delivery". Nation's Restaurant News. Retrieved 2024-08-16.
  28. ^ Li, Shan (2014-05-20). "Taco Bell to elevate its president to CEO in 2015". Los Angeles Times. Retrieved 2024-08-16.
  29. ^ Meyersohn, Nathaniel (14 August 2024). "Starbucks is struggling. So it hired fast food's Mr. Fix-It". cnn.com. CNN. Retrieved 14 August 2024.
  30. ^ Haddon, Heather (13 August 2024). "Starbucks Ousts CEO, Names Chipotle Boss as Replacement". wsj.com. The Wall Street Journal. Archived from the original on 13 August 2024. Retrieved 14 August 2024.
  31. ^ Lagatta, Eric (13 August 2024). "Chipotle CEO Brian Niccol taking over as Starbucks chief executive; Narasimhan steps down". usatoday.com. USA Today. Archived from the original on 14 August 2024. Retrieved 14 August 2024.
  32. ^ a b Herbst-Bayliss, Svea; Vanaik, Granth; Cunningham, Waylon (13 August 2024). "Starbucks taps Chipotle's Niccol as CEO in surprise move, shares soar". reuters.com. Reuters. Retrieved 14 August 2024.
  33. ^ a b Lucas, Amelia; Goswami, Rohan (13 August 2024). "Starbucks replaces CEO Laxman Narasimhan with Chipotle CEO Brian Niccol". cnbc.com. CNBC. Archived from the original on 13 August 2024. Retrieved 14 August 2024.
  34. ^ a b Gregg, Aaron; Telford, Taylor (13 August 2024). "Starbucks forces out CEO, brings in Chipotle's Brian Niccol". The Washington Post. Retrieved 14 August 2024.
  35. ^ a b Clarence-Smith, Louisa (2024-08-16). "Starbucks' new boss allowed to work from home in $113m pay deal". www.thetimes.com. Retrieved 2024-08-16.
  36. ^ "The Bloomberg 50". bloomberg.com. Bloomberg. 4 December 2019. Archived from the original on 8 December 2019. Retrieved 14 August 2024.
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