Caribou Coffee Appoints Scott Kennedy as Interim CEO
March 07 - 2025
Coffee Geography Magazine
Caribou Coffee has announced the appointment of Scott Kennedy, the company’s Chief Financial Officer and a seasoned retail industry executive, as Interim Chief Executive Officer. Mr. Kennedy will draw on his extensive leadership experience and in-depth knowledge of Caribou Coffee’s operations to guide the company during this transitional period, while continuing to fulfill his responsibilities as CFO.
Mr. Kennedy succeeds John Butcher, who will step down from his role as President and Chief Executive Officer, effective March 14, 2025. To ensure a smooth transition, Mr. Butcher will remain in an advisory capacity through the end of May. During this time, the Board of Directors will initiate a comprehensive search for a permanent CEO, evaluating both internal and external candidates.
Scott Kennedy joined Caribou Coffee as CFO in 2019, bringing with him a wealth of experience from his 14-year tenure at Target Corporation, where he most recently served as President of Financial & Retail Services for six years. Prior to that, he spent nearly 16 years at KPMG, including two years as a Partner. Mr. Kennedy holds a Bachelor of Arts in Accounting from the University of Canberra.
Konrad Meyer, Chairman of Caribou Coffee, expressed his appreciation for Mr. Butcher’s leadership: “John’s dedication over the past eight years has been instrumental in shaping Caribou Coffee’s success. His focus on delivering an exceptional customer experience and fostering a collaborative, team-oriented culture has positioned the company for a bright future. The Board is grateful for his contributions and looks forward to working with both John and Scott during this transition as we aim to accelerate growth across North America and beyond.”
As of December 31, 2024, Caribou Coffee operates more than 800 coffeehouses worldwide, including 335 company-owned locations, 140 non-traditional venues, and 361 franchise outlets across 11 countries. Since its founding in 1992, the company has consistently pursued sustainable growth, solidifying its reputation as a leader in the coffee industry.
Caribou Coffee is a member of Panera Brands, a portfolio that also includes Panera Bread® and Einstein Bros.® Bagels.