Ex-Starbucks finance executive Sumitro Ghosh and former Tata Starbucks CEO Joshua Guenser will join the drive-thru coffee chain this quarter as it seeks to reach nearly 1,000 stores in 2024
Dutch Bros opened 159 net new stores in 2023 to reach 831 outlets across 16 states | Photo credit: Dutch Bros
Dutch Bros has appointed former Starbucks executives Sumitro Ghosh and Joshua Guenser to its leadership team this quarter as it prepares for sustained outlet growth across the US.
The Oregon-based coffee chain opened 159 net new stores in 2023 to reach 831 outlets across 16 states – 289 of which are franchised. Dutch Bros expects to open approximately 160 further sites in 2024.
In a press release, Dutch Bros said Ghosh will join the business later this month as Incoming President of Operations where he will ‘actively engage’ with staff and regional leadership teams. Subject to board approval, Ghosh will then transition to the new role of President of Operations in June 2024 where he will oversee store operations, real estate strategy and supply chain management.
Ghosh has more than 12 years' experience working for Starbucks, including as CEO of Tata Starbucks between 2016-2019. He also held the role of Senior Vice President for Siren Retail, Roastery and Reserve Stores at Starbucks until 2021. He most recently served as Global VP of Nike Stores for the US sports apparel giant.
Guenser will join Dutch Bros in February 2024 and will succeed Charley Jemley as Chief Financial Officer following the release of the coffee chain’s first quarter results. Guenser held the same role at MOD Pizza and previously held several financial leadership roles at Starbucks over a 10-year period, including as Vice President Finance, US Retail and Senior Vice President Finance, Americas.
Dutch Bros also announced that Jess Elmquist has been appointed Chief People Officer with immediate effect – responsible for all human resources functions across the drive-thru coffee chain’s store network and 16,500+ workforce.
“We are designing our executive leadership team to support the Dutch Bros mission and vision as we scale and grow to 4,000 shops. I’m excited to welcome best in class leaders who understand the industry and have effectively scaled operations while maintaining and valuing company culture,” said Christine Barone, CEO, Dutch Bros.
Founded in 1992 by brothers Dane and Travis Boersma, Dutch Bros is expected to achieve full-year profitability for 2023 after posting three consecutive quarterly profits in the first nine months of last year. Net income in the three months ended 30 September 2023 increased 38% on the previous quarter to reach $13.4m while third quarter sales hit a record $264.5m.
Dutch Bros will announce its fourth quarter and full-year 2023 results in February 2024.