In a surprise move that sent shockwaves through the fast-food industry, Starbucks has announced the appointment of Brian Niccol as its new chairman and chief executive officer.

Niccol, who currently holds the same positions at Chipotle, will take the helm at the coffee giant on 9 September.

The announcement, made on 13 August, led to a staggering $21 billion increase in Starbucks' stock market value in a single day, while Chipotle saw its value drop by nearly $6 billion.

Niccol brings a wealth of experience to Starbucks, having transformed Chipotle since becoming its chief executive officer in 2018. Under his leadership, Chipotle's revenue nearly doubled, profits increased nearly sevenfold, and the stock price surged by almost 800 per cent.

Mellody Hobson, who will transition to the role of lead independent director, praised Niccol's appointment, stating, "Brian is a culture carrier who brings a wealth of experience and a proven track record of driving innovation and growth."

The move comes as Starbucks faces challenges both domestically and internationally. Niccol's reputation for tackling crises head-on and his marketing prowess are seen as key assets in revitalising the brand.

Niccol's career has been marked by successful stints at major companies. He spent a decade at Procter & Gamble before moving to Yum Brands, where he held leadership roles at Pizza Hut and Taco Bell. At Chipotle, he focused on modernising digital platforms, redesigning store layouts, and emphasising ingredient transparency. Niccol also sits on the board of Walmart.

The incoming Niccol said: “I have long-admired Starbucks iconic brand, unique culture and commitment to enhancing human connections around the globe. As I embark upon this journey, I am energised by the tremendous potential to drive growth and further enhance the Starbucks experience for our customers and partners, while staying true to our mission and values.”

The appointment follows the immediate departure of Laxman Narasimhan as chief executive officer and board member. Rachel Ruggeri, Starbucks' chief financial officer, will serve as interim chief executive officer until Niccol takes over.

One of the challenges Niccol will face is the ongoing unionisation efforts at Starbucks. While his predecessor oversaw a thawing of relations with the Starbucks Workers United union, Niccol's approach remains to be seen.

As Niccol prepares to take the reins, the coffee industry will be watching closely to see how he applies his experience from Chipotle to reinvigorate the Starbucks brand. With his track record of driving growth and navigating crises, expectations are high for Starbucks' future under his leadership.

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