Minnesota, US-based speciality coffee retailer Caribou Coffee has named Scott Kennedy as its CEO and president with immediate effect.
Kennedy, who previously held the position of chief financial officer at Caribou, has been serving as interim CEO since March 2025.
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His background includes a tenure at US retailer Target, where he spent 14 years in various executive roles.
His last position at Target, held for six years, was as president of financial and retail services.
Before his time at Target, he had amassed nearly 16 years of experience at KPMG, culminating in a two-year stint as a partner.
Kennedy commented: “I’m honoured to take on the role of President and CEO at Caribou Coffee. Caribou Coffee is a beloved brand with a strong foundation of exceptional products and a welcoming coffeehouse experience.
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By GlobalData“Looking ahead, I see tremendous opportunity to accelerate our growth, expand our reach and continue elevating what makes Caribou unique. I’m excited to partner with our talented team to seize these opportunities and deliver even greater value to our guests and stakeholders.”
Caribou Coffee, which inaugurated its first coffeehouse in 1992, is known for its food offerings and handcrafted beverages.
It operates a global network of 800 operated and franchised coffeehouses in 11 countries, and its strategy emphasises smart growth.
As part of Panera Brands, Caribou shares its corporate umbrella with Panera Bread and Einstein Bros Bagels.
In 2024, Caribou opened a new coffeehouse in Mooresville, North Carolina, and concluded a $260m licensing agreement with JDE Peet’s.
