The Oregon-based drive-thru coffee chain is seeking to strengthen its corporate governance as it targets further store growth in the US and expects annual revenues to exceed $715m this year
Dutch Bros is targeting 670 outlets by the end of 2022 and 4,000 across the US within a decade | Photo credit: Nicolas Nieves-Quiroz
Dutch Bros has increased its Board of Directors to nine members with the appointment of NIKE executive Ann Miller, who will serve on the company’s Audit and Risk Committee.
Miller, a practicing attorney and a member of the bar in New York, California, District of Columbia, and Oregon, currently serves as Executive Vice President and Chief Legal Officer of US sports retailer NIKE, where she has worked for more than 15 years in various roles.
“Dutch Bros is committed to building a Board with best-in-class governance. Ann’s extensive experience in advising public companies on business, securities, and corporate governance matters, as well as her commitment to culture, make her a valuable addition to our Board,” said Joth Ricci, President and CEO, Dutch Bros.
“I’ve had the privilege of working closely with Oregon business leaders who understand the importance of meeting commitments to customers, communities and investors. Dutch Bros is a company dedicated to making a massive difference one cup at a time while scaling growth and keeping its unique culture. I’m excited to share my knowledge in business and governance to help guide Dutch Bros at a key point in its journey,” Miller added.
Miller is the second Dutch Bros Board member to be appointed in the last 12 months, following Verily COO Stephen Gillett in December 2021, and the third executive management addition after Leigh Gower joined as the company's first Chief Technology Officer in January 2022.
Founded in 1992, Dutch Bros reported sales growth of 44% for its second quarter of 2022, reaching $186m. The company expects annual revenues to exceed $715m.
Dutch Bros also surpassed 600 stores in the US in its most recent reporting period. The chain is targeting 670 outlets by the end of 2022 and 4,000 across the US within a decade.