Former Target exec named CEO of coffee chain

Caribou Coffee has a new chief executive.

The specialty coffee chain, which operates more than 300 company-owned locations nationwide, announced that John Butcher has been appointed president and CEO. Butcher has served as president of Caribou Coffee since joining the company in June 2017.

Prior to Caribou Coffee, Butcher spent 20 years at Target Corp. and held a variety of merchandising roles including senior VP of merchandising, beauty and dermstore, senior VP of merchandising category roles and senior VP of merchandising at Target Canada Co.

At Caribou, Butcher replaces Sarah Spiegel, who is leaving the company for personal reasons, as CEO. She left the company in the fall for personal reasons, reported Twin Cities Business Magazine.

"Since John joined our company, we've witnessed an increased focus on Caribou's people and culture, resulting in quarter after-quarter performance gains and the highest guest satisfaction ratings we've ever seen at Caribou," said Mike Tattersfield, chairman of the Coffee and Bagel Brands company that oversees Caribou Coffee and Einstein Bros. Bagels.

Founded in 1992, Caribou Coffee is the second largest company-operated premium coffeehouse in the United States with over 300 company-owned locations nationwide. It also has over 120 domestic license locations in 22 states, and over 270 international franchise stores in 11 countries. The company was acquired by food and drink conglomerate JAB Holding Co. in 2012.