“I know it’s a cliché”

Brian Niccol, a seasoned executive with a proven track record of turning around troubled companies, has taken the helm at Starbucks, as the coffee giant faces growing pressure from activist investors, union efforts and sluggish sales in its two biggest markets.

Mr. Niccol, 50, who previously led Chipotle through a food scandal and the pandemic, is considered by many to be a “dream hire” and a “Hall of Fame restaurant CEO.”

In a closing speech, Niccol shared his most important career tip: “I know it sounds like a cliché, but you absolutely have to believe in yourself and have the courage not to give up when things might not go the way you imagined at first.” He also revealed his strategy of using a battered notebook to track his career progress and stay focused on his goals. CNBC does it reported.

Mr. Niccol’s “gut feeling” has played a crucial role in his career decisions, including his move from Taco Bell to Chipotle.

“Whatever you have to do to focus on your goal, do it and believe that you can do it,” he added.

“There will be moments in your career when you feel butterflies in your stomach,” he said, noting that he had that feeling when he left Taco Bell to become CEO of Chipotle in 2018. “Make room for that instinctive intelligence and take action. Trust your instincts.”

Niccol’s appointment is a crucial one for Starbucks. The company is grappling with several challenges, including declining sales, increasing competition and unionization efforts. Niccol’s experience in turning around struggling companies could be a great asset to Starbucks as it tries to overcome these challenges.

In addition to his strong leadership skills, Mr. Niccol also has extensive knowledge of the restaurant industry. He has spent his entire career in the restaurant sector and has a proven track record of driving growth and profitability.

Many analysts and investors have responded optimistically to Mr. Niccol’s appointment, believing he has the potential to get Starbucks back on track and return the company to its former glory. However, it will take some time to see whether Niccol can live up to those expectations.

“I remember him talking to me and saying, ‘I know what to do,'” Hobson, who is stepping down as chair of Starbucks’ board of directors to Niccol and will now take over as head of the independent executive committee, said on CNBC’s “Squawk Box” on Aug. 13.

Hobson continued: “He said, ‘This is a roadblock in the history of the company. This is not something I am afraid of,’ and that was extremely encouraging to our board.”

In his new role, Mr. Niccol will receive a base salary of $1.6 million annually and will commute on a company jet from his home in Newport Beach, California, to Starbucks headquarters in Seattle.