Former Starbucks CEO Howard Schultz says Brian Niccol's back-to-basics plan will fix slumping sales at the coffee giant

Core Insights - Starbucks is facing challenges with slumping sales and decreased customer traffic, prompting new CEO Brian Niccol to implement a back-to-basics strategy [2][5] - Former CEO Howard Schultz expressed confidence in Niccol's ability to revitalize the company, while stating he will not return to the CEO role [3][6] Company Strategy - Niccol's strategy aims to restore Starbucks' core identity and enhance customer experience, including the reintroduction of the condiment bar and personalized service with hand-written names on cups [5][6] - The company's Q4 earnings call revealed a 3% decline in revenue compared to the previous year, indicating ongoing struggles to attract customers [5] Leadership Transition - Brian Niccol took over as CEO in September, succeeding Howard Schultz, who has been pivotal in Starbucks' growth from 11 stores to 35,000 locations globally [4] - Schultz, who has served multiple terms as CEO, has stated he will not return to the position, allowing Niccol to lead the company forward [6]