The leadership at Caribou Coffee is undergoing a significant change as John Butcher, who has held the position of CEO for about five years, departs. Scott Kennedy, currently serving as the chief financial officer, will take over on an interim basis, as announced by the company on March 3. Both Butcher and Kennedy have a shared history, having previously worked together at Target in Minnesota before joining Caribou Coffee in 2019.

During their tenure, Caribou Coffee has undergone several strategic transformations. The brand introduced a franchising model in the United States, restructured its operations by closing its original Edina storefront, and sold its roasting division along with other business rights to JDE Peet’s for $260 million. Additionally, following its acquisition by JAB Holding Company in 2012, Caribou Coffee became part of Panera Brands in 2021, alongside well-known brands like Einstein Bros. Bagels and Panera Bread. Just recently, Panera Brands also saw a leadership shift when José Alberto Dueñas stepped down as CEO after less than two years, with CFO Paul Carbone assuming interim leadership.

John Butcher will assist during the transition period while the board of directors seeks a permanent successor. Caribou Coffee now boasts an impressive global presence with over 800 stores spread across 11 countries, including both company-owned and franchise locations. This leadership change signifies a pivotal moment for Caribou Coffee, reflecting the company's commitment to adapting and evolving in the competitive coffee industry. It underscores the importance of strong leadership and strategic vision to drive continued growth and success in the ever-changing market landscape.