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It’s the first day on the job for new Starbucks CEO Brian Niccol, and expectations are high. Niccol explained that he carries a “beat-up notebook” with him to outline and track his progress toward his career goals. Trusting his gut and believing in his ability to succeed, Niccol said, has made the biggest difference in his career up to this point. “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. Niccol used a 5-word phrase in a phone screening with former Starbucks chair Mellody Hobson to illustrate his confidence and preparedness for the job.
Persons: Brian Niccol, Anjali Sundaram, Taco Bell, , ” Niccol, Niccol, Mellody Hobson, , , ’ ” Hobson, ” Hobson, Brian, “ We’re Organizations: CNBC, Wall, Taco, Miami University in, Taco Bell, Starbucks Locations: U.S, China, Miami University in Oxford , Ohio, Newport Beach , California, ’ Seattle
In this article SBUXCMG Follow your favorite stocks CREATE FREE ACCOUNTBrian Niccol, CEO of Chipotle Anjali Sundaram | CNBCWall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decadeslong Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job in March 2023 after being handpicked by former CEO Schultz. Other analysts wrote glowingly of Niccol, seeing him as the right person to tackle Starbucks' sluggish sales. Some analysts believe that having Niccol, an experienced restaurant CEO, in the driver's seat could mean that Schultz finally moves on.
Persons: Brian Niccol, Chipotle Anjali Sundaram, Howard Schultz, Niccol, Laxman Narasimhan, Schultz, TD Cowen, Andrew Charles, Piper Sandler, Baird, Oppenheimer, Brian Bittner, Brian, David Palmer, Morgan Stanley, Brian Harbour, Mellody Hobson, Niccol's, Hobson, Gordon, Don Bilson, Chipotle, Steve Ells, Bernstein, Danilo Gargiulo Organizations: CNBC, Starbucks, SBUX, Newport Locations: Denver, Newport Beach
Tim Adams Anjali Sundaram | CNBCThe banking sector turmoil that led to the collapse of several lenders was not a systemic crisis and has now subsided, according to Tim Adams, CEO of the Institute of International Finance. Speaking to CNBC on the sidelines of the International Monetary Fund Spring Meetings in Washington D.C. on Tuesday, Adams said the March chaos was a "period of market turmoil or turbulence," but dismissed the notion that it was a "crisis." The IIF is a global trade body for the financial services industry, with around 400 members in more than 60 countries. Adams said the primary concern among members was the downside risk to growth, particularly in advanced economies. The IMF on Tuesday lowered its five-year global growth forecast to around 3%, marking the lowest medium-term forecast in an IMF World Economic Outlook report since 1990.
Further, in the midst of chaos, the stock market crashed, resulting in a global bear market that lasted from 1973 to 1974. In my 52 years of investing, I have never seen anyone consistently and accurately predict what the economy or the stock market was going to do. They acquired weaker competitors at bargain prices or gained market share as their rivals faltered. The stock market crash of 1987, the dot-com bubble burst of 2000-2001, the 2007-2008 financial crisis, and now. We seek to accomplish that by investing for the long term in companies we believe are competitively advantaged and managed by exceptional people.
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