Starbucks' New CEO Shares His Go-To Career Advice: "I Know It's a Cliche"

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

Mr Niccol, 50, who previously led Chipotle through a foodborne illness scandal and the pandemic, is seen by many as a "dream hire" and a "hall of fame restaurant CEO." 

In a commencement speech, Niccol shared his go-to career advice. "I know it's a cliche, but you absolutely have to believe in yourself and have the grit to not give up, when it at first might not be going your way,”  He also shared his strategy of using a beat-up notebook to track his career progress and stay focused on his goals, CNBC Make It reported.

Mr Niccol's "gut instinct" has played a crucial role in his career decisions, including his move from Taco Bell to Chipotle. 

“Whatever it is you need to do to keep yourself focused on your goal, do it, and believe you can do it,” he added.

“There will be times in your career when your gut will be tingling,” he said, noting that he had that feeling when he left Taco Bell to become Chipotle's CEO in 2018. “Make space for that instinctive intelligence and take action. Trust your instincts.” 

Niccol's appointment is critical for Starbucks. The company has been grappling with several challenges, including declining sales, increased competition, and unionization efforts. Niccol's experience in turning around troubled companies could be a valuable asset to Starbucks as it seeks to navigate these challenges.

In addition to his strong leadership skills, Mr Niccol 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 met with optimism by many analysts and investors. They believe that he has the potential to turn Starbucks around and restore the company to its former glory. However, it will take time to see whether Niccol can deliver on these expectations.

"When I talked to him I remember him saying, 'I know what to do,'" Hobson, who ceded her position as chair of the Starbucks board to Niccol and is now lead independent director, said in an Aug. 13 appearance on CNBC's "Squawk Box." 

Hobson continued: "He said, 'This is a speed bump in this company's history. This is not something that I fear going into,' and that was something for our board that was extremely encouraging." 

In his new role, Mr Niccol will be getting paid a base salary of $1.6 million annually and supercommuting from his home in Newport Beach, California to Starbucks' Seattle headquarters on a corporate jet.