National Coffee Chain Starbucks has been approved and is getting ready to open a new location in Panorama City at 9134 Van Nuys Blvd.
The company’s newest site is set to move into the former home of Vallarta Supermarkets at an unknown time, according to documentation submitted to the Los Angeles City Planning Department. The new Starbucks will be 2,140 square feet with a drive-through. This will be the third Starbucks in Panorama City, following a drive-through location near the Panorama Mall and a store at the corner of Nordhoff Street and Sepulveda Boulevard.
This is Starbucks’s first new Los Angeles location since the company announced last month that Brian Niccol, the former Chairman and CEO of Chipotle since 2018, will become the new Starbucks chairman and CEO, effective September 9, according to a press release. Rachel Ruggeri will serve as interim CEO until that time. Mellody Hobson, Starbucks board chair, will become the lead independent director.
“I am excited to join Starbucks and grateful for the opportunity to help steward this incredible company alongside hundreds of thousands of devoted partners,” Niccol said in a press release. “I have long-admired Starbucks iconic brand, unique culture and commitment to enhancing human connections around the globe. As I embark upon this journey, I am energized by the tremendous potential to drive growth and further enhance the Starbucks experience for our customers and partners while staying true to our mission and values.”
Since becoming CEO in 2018, Niccol has transformed Chipotle. His focus on people and culture, brand, menu innovation, operational excellence, and digital transformation have set new standards in the industry and driven significant growth and value creation. Revenue has nearly doubled, profits have increased nearly sevenfold, and the stock price has increased by almost 800% during his leadership, all while increasing wages for retail team members, expanding benefits, and strengthening the culture.
“We are thrilled to welcome Brian to Starbucks,” Hobson said in a press release. “His phenomenal career speaks for itself. Brian is a culture carrier who brings a wealth of experience and a proven track record of driving innovation and growth. Like all of us at Starbucks, he understands that a remarkable customer experience is rooted in an exceptional partner experience. Our board believes he will be a transformative leader for our company, our people, and everyone we serve around the world.”
Laxman Narasimhan is stepping down from his roles as CEO and member of the Starbucks board with immediate effect. During his tenure, he improved the Starbucks partner experience, drove significant innovation in our supply chain, and enhanced our store operations.
“On behalf of the board, I want to sincerely thank Laxman for his contributions to Starbucks and his dedication to our people and brand,” Hobson said. “In the face of some challenging headwinds, Laxman has been laser-focused on improving the business to meet the needs of our customers and partners. We all wish him the very best and know he will do great things in the future.”
