The founder of Chicago-based Intelligentsia Coffee and Tea has announced that he will be sharing his CEO duties with philanthropist and former real estate developer Robert Buono.
According to a recent New York Times report, the relationship merely represents a partnership, in which Buono will bring his management experience to the high-profile specialty coffee roasting company, rather than the result of an investment. Buono and Intelligentsia owner Doug Zell reportedly met as undergraduates at the University of Wisconsin.
“We’re bringing on management expertise so that we can grow and still remain independent,” Zell told the paper.
Intelligentsia told the Times the company maintains expansion plans, including moving Santa Rosa, Calif.-based specialty roaster Ecco Cafe — which Intelligentsia acquired last year — into a new facility in San Francisco.
The full story: New York Times