Schultz Gives Niccol's 'Back To Starbucks' Strategy Stamp Of Approval – CoffeeTalk

Former Starbucks CEO Howard Schultz has expressed his enthusiasm for Brian Niccol’s “back to Starbucks” strategy, which he believes is a key stamp of approval for Niccol as he tries to lift the company’s slumping sales and restore the chain’s culture. Schultz made a surprise appearance at the company’s Leadership Experience in Las Vegas, where he cosigned Niccol’s plans. The three-day event has gathered over 14,000 North American store leaders to hear from Starbucks management as the company embarks on a turnaround.

Niccol took the reins in September after the board ousted Laxman Narasimhan, Schultz’s handpicked successor. After a rocky start to the year, Starbucks shares have climbed nearly 20% since the beginning of April. They are now trading at around $95.30, just shy of where they closed on August 13, following a nearly 25% jump the day Niccol was named CEO.

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 is forever entitled to attend board meetings unless barred by the company’s directors.

During Niccol’s first week on the job, he outlined plans for the comeback in an open letter, making the commitment to get “back to Starbucks.” 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’s leadership, the company’s marketing has shifted to focus on its coffee, rather than discounts and promotions.

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