Starbucks Shakeup, Tamer Inflation Data, Interview with Blackstone Pres. Jon Gray 8/13/24
Squawk on the Street
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Leadership Shakeup at Starbucks
This chapter covers the recent ousting of CEO Locksman and the appointment of Brian Nickel from Chipotle as the new chairman and CEO of Starbucks. It addresses the company's struggles with sales declines and the influence of activist investors, while also highlighting the optimism surrounding Nickel's potential for revitalizing the brand. The conversation reflects on the challenges faced, including customer service issues and the dynamics within the boardroom, revealing a mix of cautious optimism and skepticism about the company's future.
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Transcript
