MINNEAPOLIS, USA – Caribou Coffee, a leading specialty coffee retailer, today announced that Scott Kennedy, Caribou Coffee’s Chief Financial Officer and a veteran retail industry executive, has been named as Interim Chief Executive Officer. Mr. Kennedy will leverage his leadership experience and deep understanding of Caribou Coffee’s operations to lead the Company while continuing to serve in his role as Chief Financial Officer.
Mr. Kennedy is succeeding John Butcher, who will be stepping down from his role as President and Chief Executive Officer, effective March 14, 2025. Mr. Butcher will remain in an advisory role through 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.
Mr. Kennedy joined Caribou Coffee as Chief Financial Officer in 2019. Previously, he spent 14 years in executive positions at Target Corporation, the last six years as President, Financial & Retail Services. Earlier, he spent almost 16 years at KPMG, with the last two years as Partner. Mr. Kennedy received his Bachelor of Arts in Accounting from the University of Canberra.
“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,” said 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.”
