Howard Schultz News

Starbucks is discontinuing its Oleato olive-oil infused beverages at most locations, part of an effort to streamline the chain’s menu

When Kevin Plank took back the CEO job this year at Under Armour, he said the sportswear brand he founded had suffered from executive turnover and strategy shifts. “My top priority is to bring clarity and stability to our business," he told investors in May, when Plank also warned them that the company’s sales would drop at least 10% this year. The 52-year-old billionaire had never left the company he started nearly 30 years ago.

Incoming Starbucks chief executive Brian Niccol is set to partake in a ceremonial “first sip" of coffee Monday as he reports for his first day of work. For Starbucks employees, it is another change to digest. The coffee chain’s board of directors, investors and longtime leader Howard Schultz have embraced Niccol since his hiring last month, praising the former Chipotle Mexican Grill CEO as the best possible choice to turn around Starbuck’s operations and restore its brand after a turbulent few years.

Starbucks' incoming CEO Brian Niccol will have more power than his predecessor. Niccol, who is leaving Chipotle Mexican Grill, will become CEO and chairman the moment he joins Starbucks on September 9. By contrast, Laxman Narasimhan spent more than five months as the CEO-in-training under company patriarch Howard Schultz and he never took on the board chairman position. Only after an intense period of shadowing Schultz did he gain the ability to set the company's strategy. The vastly different handovers underscore the two executives' contrasting resumes-Narasimhan had no restaurant experience while Niccol has spent 20 years as a leader at Chipotle and Yum! Brands.

Incoming Starbucks Corp chief executive officer Brian Niccol is a star executive who is widely considered the best in the business. Quite frankly, it’s surprising the company was able to hire him at all. Despite the coffee-chain giant being one of the world’s most iconic and powerful brands, Starbucks has a problem for any incoming CEO.

Starbucks Corp. CEO Brian Niccol is a star executive who is widely considered the best in the business. Quite frankly, it’s surprising the company was able to hire him. Despite the coffee giant being one off the world’s most iconic and powerful brands, Starbucks has a problem for any incoming CEO. And that problem is named Howard Schultz. As Starbucks’ longtime CEO who became synonymous with the company he all but founded, Schultz can’t seem to let go. He’s twice boomeranged back into the top job when the company hit turbulence. And since he departed from the board a year ago, he has become a meddler — criticizing his successor Laxman Narasimhan and the board in a LinkedIn post and on a podcast, even though he handpicked Narasimhan, trained him and set an aggressive growth plan on his way out the door.

Starbucks, struggling with weak demand and disgruntled investors, said Tuesday that CEO Laxman Narasimhan is stepping down after a little more than a year in the job.

Starbucks, struggling with weak demand and disgruntled investors, said Tuesday that CEO Laxman Narasimhan is stepping down after a little more than a year in the job

Brian Niccol, the chairman of Chipotle Mexican Grill, has been appointed as the new CEO of Starbucks as of August 13, 2024. Niccol will conclude his tenure as CEO of Chipotle on August 31, 2024. Howard Schultz, the former CEO of Starbucks, expressed his support for Niccol’s appointment, stating that Niccol has his “respect and full support.” Laxman Narasimhan, the outgoing CEO of Starbucks, will be leaving both his position and the Starbucks board after joining the company in 2023. During Narasimhan's time, Starbucks experienced a 3 percent decline in global sales at stores open for at least a year, according to a CNN report. In contrast, Chipotle saw an 800 percent revenue growth while under Niccol's leadership, as highlighted by the same report.

₹81 crore and revenue from operations grow 12% in fiscal year 2024, according to TCPL's annual report released on Thursday. In fiscal year 2023 the coffee chain had reported a loss of ₹23.9 crore.

Like legions of disgruntled former employees who preceded him, Howard Schultz took to LinkedIn last week to complain about what had gone wrong at his old company. Without naming names, the former Starbucks CEO—who all but founded the coffee chain—slagged his successor, writing that after such a significant quarterly earnings miss, “there must be contrition" and that the company should “own the shortcoming without the slightest semblance of an excuse." Schultz has a point.

Wiz said Tuesday it raised $1 billion in a deal valuing the fast growing cloud security startup at $12 billion. Wiz said the funding round, which brings the company’s total funding to $1.9 billion, was led by Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital. Greylock Partners, Wellington Management and existing investors Cyberstarts, Greenoaks, Index Ventures, Salesforce Ventures, Sequoia Capital and former Starbucks chief executive Howard Schultz also participated.

Former Starbucks CEO Howard Schultz says the company’s leaders should spend more time in stores and focus on coffee drinks as they work to turn around flagging sales

Howard Schultz officially stepped down as chief executive officer of Starbucks in March 2023. But with Schultz [whose name has so closely been associated with the Starbucks story], you’re never really sure that he’s gone. Twice before has the coffee-chain’s longtime CEO handed over the company’s reins to a hand-picked successor.

Investing.com — U.S. futures traded higher Thursday, as investors digested the rise in headline consumer inflation ahead of more economic data to provide more clues of likely Federal Reserve interest rate moves.

Longtime Starbucks leader Howard Schultz is stepping down from the company’s board of directors

Investing.com — Starbucks Corporation (NASDAQ:SBUX) said chairman emeritus Howard Schultz would step down from its board effective today as part of a planned transition.

The third Howard Schultz era at Starbucks (SBUX) is over. New CEO Laxman Narasimhan has taken the helm of the giant coffee retailer from Schultz almost two weeks earlier than anticipated.

Starbucks Corp. interim Chief Executive Howard Schultz has agreed to testify before a Senate committee, Vermont Sen. Bernie Sanders said Tuesday, the latest development in the 18-month conflict between the company and U.S. baristas seeking to unionize.

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Global coffee store franchise giant Starbucks is looking to launch a new Web3 rewards program to attract and retain customers, according to its interim CEO Howard Schultz.