Dutch Bros appoints Christine Barone as new CEO

Christine Barone (pictured) joined Dutch Bros in February 2023

Dutch Bros has announced President Christine Barone will take over as CEO from Joth Ricci effective 1 January 2024. 
 

Announcing its second quarter results, the drive-thru coffee chain said a leadership transition process will take place throughout the remainder of 2023. 

Barone, who previously served as Senior Vice President of Food, Evenings and Licensed Stores at Starbucks, joined Dutch Bros as President in February 2023 to help drive its next phase of growth. 

“Christine is perfectly suited to take on the President and CEO role at Dutch Bros. Since joining us in February, she’s become an integral part of this organisation, demonstrating her passion and ability to affect positive change in our business. She has the experience and knowledge to help us scale, as well as a true passion for people. I'm confident she is the best leader to help us in our next phase,” said Executive Chairman Travis Boersma.   

Ricci joined Dutch Bros in January 2019 having previously served as President of Stumptown Coffee Roasters. In a press release Boersma thanked Ricci for successfully developing Dutch Bros from a small regional business to a key player in the US market.      

Dutch Bros reported 34% year-on-year sales growth in the second quarter of 2023 to reach $250m, with sales from company operated stores rising 38% to $221m.  

Net income in the three months ended 30 June 2023 reached $9.7m, compared to a loss of $1.8m in the same period of 2022.   
 

Dutch Bros opened 38 net new outlets in the quarter, 35 of which are company operated, to reach 754 sites. Of its total footprint, 63% of which are company operated.   

“I am encouraged by the strength of the underlying business. We continue to see meaningful expansion in shop profitability and leverage in general and administrative costs as we scale our business. We continue to keep a close eye on our costs, particularly those related to new shop development, which we are working diligently to mitigate. Taken together, this gives us confidence to remain committed to our long-term new shop growth plan,” Ricci said.  

Dutch Bros, which has opened 83 net new stores to date this year, forecasts reaching 800 sites across the US by the end of 2023.