Caribou Coffee names Scott Kennedy as President and CEO
Kennedy, a former CFO, takes leadership as Caribou strengthens global growth and navigates a major coffee industry acquisition.
USA – United States speciality coffee retailer Caribou Coffee has appointed Scott Kennedy as President and Chief Executive Officer, effective immediately.
Kennedy had been serving as interim CEO since March 2025 following the departure of John Butcher. He originally joined Caribou Coffee in 2019 as Chief Financial Officer.
Before joining Caribou, Kennedy built a career spanning more than three decades. He worked for 14 years in executive roles at Target Corporation, including six years as President of Financial & Retail Services.
Prior to Target, he spent nearly 16 years at KPMG, where he concluded his tenure as Partner. Kennedy holds a Bachelor of Arts in Accounting from the University of Canberra.
Caribou Coffee Chairman José Cil praised Kennedy’s leadership, stating: “I am confident Scott’s focus on building a winning team and culture along with delivering exceptional guest experiences in our Caribou coffeehouses every day will help make this great brand a great business.”
In his first statement as CEO, Kennedy described Caribou as “a beloved brand with a strong foundation of exceptional products and a welcoming coffeehouse experience.” He highlighted significant opportunities to accelerate growth, expand reach, and strengthen what makes Caribou unique.
The Minnesota-based chain, established in 1992, operates and franchises more than 800 coffeehouses across 11 countries. Last year, the company recorded a 6.4% increase in systemwide sales, reaching US$525 million.
Caribou’s packaged coffee operations are also undergoing major changes. In 2024, JDE Peet’s purchased Caribou’s roasting business for US$260 million, covering both retail and foodservice coffee bean sales.
Now, Keurig Dr Pepper has announced plans to acquire JDE Peet’s and later spin off the combined coffee brands into a separate US$16 billion company.
Kennedy assumes leadership as Caribou Coffee seeks to expand globally while adapting to shifts in the wider coffee industry.
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