Former Starbucks CEO Howard Schultz appeared on the podcast “Acquired” on June 4th and recounted the time he received harsh criticism from Steve Jobs.
Schultz recounted a pivotal meeting with Apple’s co-founder that he said dramatically shaped the company’s trajectory. episode During the “Acquired” podcast, Schultz recounted walking across Apple’s campus in 2008 and confiding his leadership woes to Jobs. StarbucksJobs’ advice was as honest as it was shocking.
“he [Jobs] “He stopped me and said, ‘Here’s what you need to do: go back to Seattle and fire your entire leadership team,'” Schultz recalled. “I thought he was joking.”
Starbucks founder says Steve Jobs shouted in his face, but it was “right”https://t.co/IPVEKsTLOd
— FOX Business (@FoxBusiness) June 10, 2024
As Jobs predicted, within the next six to nine months, nearly all but one of the company’s executives were replaced. (Related: Starbucks made a big fuss about its “inclusive” bathroom policy, then regrets it)
“He was right in every respect except one,” Schultz added.
The move comes at a turbulent time for Schultz, who just returned to his role as CEO to steer the company through financial difficulties. according to To Fox News.
Schultz, who served three terms as CEO of Starbucks, will step down as interim CEO in 2023 and hand over control to former PepsiCo executive Lakshman Narasimhan, Fox News reported. Under Narasimhan’s leadership, Starbucks has continued to navigate challenges, including widespread unionization efforts and a cautious consumer market that saw quarterly net revenue fall 2% to $8.6 billion and same-store sales fall 4% — the first time since 2020.
