Starbucks Australia names Braeden Lord as new CEO

Starbucks Australia has named Braeden Lord as its new Chief Executive Officer, effective 25 November 2024. Lord, who has served as a Non-Executive Director on Starbucks Australia's Board since 2015, brings a wealth of experience from leadership roles in the retail and food sectors. His appointment marks a strategic move as the company continues its expansion across the country.

Lord is currently the CEO of Gelatissimo, a Sydney-based ice cream parlour chain with 50 stores, a role he has held since April 2022. In addition to his time at Gelatissimo, Lord’s career includes significant leadership positions, such as Director of International Development at the bakery-café chain Baker’s Delight, CEO of online grocery platform Aussie Farmers Direct, and General Manager of Retail Operations for 7-Eleven Australia. His diverse background in scaling businesses and driving retail growth positions him well to lead Starbucks Australia through its next phase of development.

Lord will succeed Chris Garlick, who has been at the helm of Starbucks Australia since 2014. Under Garlick's leadership, Starbucks Australia has undergone a period of significant transformation. The coffee chain, which struggled in its early years after entering the Australian market in 2000, experienced major setbacks in 2008, closing two-thirds of its 80 stores due to heavy financial losses. However, the company has since regained its footing and achieved a turnaround in recent years, including posting its first annual profit in 2023.

Garlick will be moving on to a new role as CEO of Retail Zoo, the parent company of various Australian restaurant franchises, including Boost Juice. His departure comes at a time when Starbucks Australia is expanding its footprint, particularly with new growth in the western states, including Perth.

Since being acquired by The Withers Group, a Victoria-based company, in 2014, Starbucks Australia has grown from just 24 stores to 72, with another 45 outlets in development. The company achieved impressive results in the 12 months ending on 30 June 2023, with a 35% year-on-year revenue growth to reach AU$157.3 million (US$105 million) and a profit of AU$3.15 million (US$2.1 million).

Commenting on his new role, Lord emphasized the potential for further growth and strengthening Starbucks Australia’s presence nationwide. His experience in scaling operations, particularly in retail, aligns with Starbucks' vision of expanding into new regions and building on its recent successes.

As Starbucks continues to grow, its strategy under Lord’s leadership will likely focus on broadening its market presence, exploring new customer segments, and enhancing store experiences across the country. With the company's recent profitability and strong momentum, Lord is stepping into a dynamic role with the opportunity to further cement Starbucks as a key player in Australia's competitive coffee market.

Starbucks’ expansion plans, particularly in the western states, signal confidence in the Australian market, where the brand has found renewed success despite early challenges. As CEO, Lord will be responsible for steering the company through this critical phase of development and continuing the positive trajectory set in motion over the last decade.

As the new CEO, Lord is set to guide Starbucks Australia through an exciting period of growth, backed by strong financial performance and a solid foundation. Starbucks’ journey in Australia has been a story of resilience, and under Lord's leadership, the company looks poised to write its next chapter of success.