Kyle WiggersLeading a company comes with many benefits, but it also brings significant responsibility and pressure, which can affect the mental health of even the most experienced executives. As a company grows, the stakes, spotlight, and expectations also increase. Starbucks is a prime example of this. However, the company has faced challenges domestically and internationally in recent times. To address these challenges, Starbucks has appointed Chipotle CEO Brian Niccol as its new Chairman and CEO, replacing Laxman Narasimhan.
Initial response to Niccol’s appointment has been positive, with Starbucks shares surging by more than 24% and Chipotle shares falling by nearly 8%. Even Howard Schultz, Starbucks’ founder and Chairman Emeritus, endorsed Niccol, stating his belief that Niccol is the leader Starbucks needs at this pivotal moment.
Despite the initial positive response, Niccol will need to tackle significant issues at Starbucks. According to analysts and investors, his primary challenge will be to revamp and improve the customer experience. This will involve addressing fundamental issues, starting with the well-being of the employees. The starting point for revitalizing growth and brand for Starbucks or any other company is clear: prioritizing the people in the organization.
Two key takeaways from Starbucks are:
- Balancing innovation with culture and tradition: Starbucks needs to focus on improving the customer experience and maintaining its brand identity, starting with the well-being of its employees.
- Building connectivity and synergy from the top to the bottom: To address the well-being of employees and improve customer experience, stronger communication and understanding between senior leaders and employees are essential.
It is clear that to recapture the brand’s former glory, Niccol must prioritize reinvigorating the people within the organization, starting with their well-being.
Kyle Wiggers
