Starbucks announced the appointment of Brian Niccol as Chairman and Chief Executive Officer.

Niccol previously served as Chairman and CEO of Chipotle, where he turned around the company's food safety crisis and doubled revenue while increasing profits nearly sevenfold. He also served as CEO of Taco Bell, and held positions at Yum! Brands and Procter & Gamble.

Starbucks said Niccol's brand transformation expertise is exactly what the company needs at this time.