Brian Niccol, a veteran executive with a proven track record of turning around troubled companies, has taken the helm at Starbucks, a coffee giant that faces mounting pressure from activist investors, a unionization effort and sluggish sales in its two biggest markets.
Mr. Niccol, 50, who previously led Chipotle through a foodborne illness scandal and pandemic, is viewed by many as a “dream hire” and a “Hall of Fame restaurant CEO.”
In her commencement speech, Nicole shared her career advice. “I know it’s a cliché, but you have to have full faith in yourself and have the courage not to give up, even if things don’t go your way at first,” She also shared her strategy of using an old notebook to track her career progress and stay focused on her goals, CNBC Make It Report.
Mr. Niccol’s “intuition” has played a key role in his career decisions, including his move from Taco Bell to Chipotle.
“Do whatever you need to do to stay focused on your goal and believe that you can do it,” he said.
“There will be times in your career when you have that tingling feeling inside,” he said, explaining that he felt the same way when he left Taco Bell to become CEO of Chipotle in 2018. “Make room for that intuition and take action. Trust your intuition.”
Niccol’s appointment is significant for Starbucks. The company is facing a number of challenges, including declining sales, increasing competition, and attempts to form a union. Niccol’s experience in managing troubled companies could be a valuable asset to Starbucks as it seeks to tackle these challenges.
In addition to his strong leadership skills, Mr. Nichol also has a deep understanding of the restaurant industry. He has spent his entire career working in the food service sector, and he has a proven track record of driving growth and profitability.
Mr. Niccol’s appointment has been viewed with positivity by many analysts and investors. They believe that he has the ability to transform Starbucks and bring the company back to its former glory. However, it will take time to see if Niccol is able to live up to these expectations.
“When I talked to him I remember he said, ‘I know what to do,'” Hobson, who handed over his position as Starbucks board chairman to Niccol and is now the lead independent director, said Aug. 13 on CNBC’s “Squawk Box.”
Hobson added: “He said, ‘This is a dead end in the history of this company. It’s not something I’m afraid of,’ and that was very encouraging to our board.”
In his new role, Mr. Niccol will receive a base salary of $1.6 million annually and travel by corporate jet from his home in Newport Beach, California, to Starbucks’ Seattle headquarters.