LAS VEGAS. \u2014 Former Starbucks CEO Howard Schultz said Wednesday that he \u201cdid a cartwheel\u201d in his living room when current chief executive Brian Niccol first coined his \u201cback to Starbucks\u201d strategy.<\/p>\n
The enthusiasm from the 71-year-old Starbucks chairman emeritus is a key stamp of approval for Niccol as he tries to lift the company\u2019s slumping sales and restore the chain\u2019s culture.<\/p>\n
Schultz, who grew Starbucks from a small chain into a global coffee giant, made a surprise appearance at the company\u2019s Leadership Experience in Las Vegas and cosigned Niccol\u2019s plans. The three-day event has gathered more than 14,000 North American store leaders to hear from Starbucks management as the company embarks on a turnaround.<\/p>\n
Niccol took the reins in September, joining the company after the board ousted Laxman Narasimhan, Schultz\u2019s handpicked successor.<\/p>\n
Schultz had returned in 2022 for his third stint as chief executive, but it was only an interim role. He previously told CNBC that he has no plans to come back again. Schultz no longer holds a formal role within the company, although CNBC has previously reported that he\u2019s forever entitled to attend board meetings unless barred by the company\u2019s directors.<\/p>\n
During Niccol\u2019s first week on the job, he outlined plans for the comeback in an open letter, making the commitment to get \u201cback to Starbucks.\u201d More details on how the chain planned to return to its roots followed in the ensuing months, from bringing back seating inside cafes to writing personalized messages on cups. Under Niccol\u2019s leadership, the company\u2019s marketing has shifted to focus on its coffee, rather than discounts and promotions.<\/p>\n
When Starbucks announced Narasimhan\u2019s firing and Niccol\u2019s hiring, Schultz issued a statement of support, saying that the then-Chipotle CEO was the leader that the company needs. However, the Leadership Experience marks the first time that Niccol and Schultz have appeared publicly together.<\/p>\n
During Narasimhan\u2019s short tenure as CEO, Schultz did not mince words when the company\u2019s performance fell short of his expectations. After a dismal quarterly earnings report, he weighed in publicly on LinkedIn, saying the company needs to improve its mobile order and pay experience and overhaul how it creates new drinks to focus on premium items that set it apart.<\/p>\n
But Schultz said Starbucks\u2019 problems went further than just operational issues and lackluster beverages and food.<\/p>\n
\u201cThe culture was not understood. The culture wasn\u2019t valued. The culture wasn\u2019t being upheld,\u201d he said on Wednesday.<\/p>\n<\/p>\n
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