United States-based coffee chain Caribou Coffee has appointed CFO Scott Kennedy interim CEO effective 14 March 2025 as John Butcher steps down from the role.
Butcher will remain in an advisory role until the end of May to help ensure a seamless transition, during which the Board of Directors will conduct a search for a permanent CEO, considering both internal and external candidates.
Kennedy joined Caribou Coffee as CFO in 2019. Previously, he spent 14 years in executive positions at Target Corporation, the final six years as President, Financial & Retail Services. Earlier, he spent almost 16 years at KPMG, with the last two years as Partner.
“I want to thank John for his leadership over the last nearly eight years, as his commitment to providing a best-in-class customer experience and building a strong team-oriented culture at Caribou positioned the company well for the future,” says Konrad Meyer, Chairman of Caribou Coffee.
“The Board looks forward to working with John and Scott during this transition as we set our sights on accelerating growth across North America and internationally.”
Caribou Coffee opened its first location in 1992 and has more than 800 coffeehouses worldwide as of December 2024. Caribou Coffee is part of Panera Brands, alongside Panera Bread and Einstein Bros. Bagels.
