Caribou Coffee Names Scott Kennedy CEO Amid Expansion

In a September 2 press release, Caribou Coffee announced that Scott Kennedy has been appointed as its new president and CEO after serving six months as interim chief. Kennedy, who previously spent six years as the company’s chief financial officer, also brings more than a decade of corporate leadership experience from his time at Target. He steps into the role as the Minnesota-based coffee chain continues to grow its nearly 500 U.S. locations under the Panera Brands umbrella, which also includes Panera Bread and Einstein Bros. Bagels.

Kennedy takes over during a period of steady expansion. The coffee franchise has been reshaping its footprint with a multi-format strategy designed to meet different markets and customer needs. Caribou’s smaller “Cabin” drive-thru model and its larger “Chalet” coffeehouses are both being used to reach suburban, urban and even non-traditional venues like airports and grocery stores. Franchise development has also been part of the plan, with Caribou signing deals in recent years that lay the groundwork for as many as 300 new shops.

The chain has made a push into the Southeast, opening new stores in Georgia, North Carolina and Florida, while also planting a flag in Texas with its first standalone location in the Dallas-Fort Worth area. As of late 2024, Caribou operated 487 restaurants in the U.S. and around 800 globally.

The leadership changes at Caribou come as parent company JAB Holding continues to refine its restaurant portfolio. JAB recently appointed former Restaurant Brands International CEO José Cil as chairman of its restaurant concepts, which include Caribou, Panera and Einstein Bros, QSR previously reported. For Caribou, Kennedy’s promotion signals a focus on executing its retail strategy after the brand sold its roasting operations and licensed its packaged coffee business to JDE Peet’s in 2024.

While rivals like Starbucks, Dunkin’ and Dutch Bros are expanding at faster rates, Caribou has leaned on its reputation as a legacy coffeehouse chain while experimenting with new formats and growth markets. With Kennedy now officially in charge, the company appears set to double down on its efforts to balance tradition with innovation as it pursues expansion across the U.S.