The coffee giant said Niccol, who currently serves as chairman and CEO of Chipotle, would succeed Laxman Narasimhan, who had stepped down from his role as CEO and as a member of the Starbucks board with immediate effect. During the transition period, chief financial officer Rachel Ruggeri would serve as interim CEO. Additionally, Mellody Hobson, who currently serves as Starbucks board chair, would take on the role of lead independent director. Starbucks said Niccol would bring a "wealth of experience" and a proven track record of success to the company.