Howard Schultz

What year was that? That she took over the role? I think it's about a decade after we opened. Okay. She's still there today. I ask because I want to come back to it. There's a whole interim between 2000 and 2008 where you are not the CEO of the company. Right. So in 2000, I mean, if you've been listening to this episode...

What year was that? That she took over the role? I think it's about a decade after we opened. Okay. She's still there today. I ask because I want to come back to it. There's a whole interim between 2000 and 2008 where you are not the CEO of the company. Right. So in 2000, I mean, if you've been listening to this episode...

the theme that should be occurring to you is, oh my god, basically everything worked. And I know it didn't feel like that on the inside, but you read all those investment banking reports, and it's like, hey, Starbucks, here's all these price targets for Starbucks, and here's what we think they're going to do in earnings, and oh, they beat it again.

the theme that should be occurring to you is, oh my god, basically everything worked. And I know it didn't feel like that on the inside, but you read all those investment banking reports, and it's like, hey, Starbucks, here's all these price targets for Starbucks, and here's what we think they're going to do in earnings, and oh, they beat it again.

And I don't know, 30, 40 quarters in a row, it's just like this, I would say perfectly predictable, except you actually kept exceeding the expectation, so it wasn't predictable.

And I don't know, 30, 40 quarters in a row, it's just like this, I would say perfectly predictable, except you actually kept exceeding the expectation, so it wasn't predictable.

I did 100 quarterly conference calls. As CEO, 100.

I did 100 quarterly conference calls. As CEO, 100.

Yeah, that's a lot. I bet. That's a lot of earnings prep because each one of those has, what, two weeks before it of. The truth is the majority of those were no script. which became, the lawyers took over after that many years, but no script. Which is your preferred communication style. It seems like whenever I see you up speaking, there's no teleprompters. It's from the heart.

Yeah, that's a lot. I bet. That's a lot of earnings prep because each one of those has, what, two weeks before it of. The truth is the majority of those were no script. which became, the lawyers took over after that many years, but no script. Which is your preferred communication style. It seems like whenever I see you up speaking, there's no teleprompters. It's from the heart.

So at this point, I don't want to say, it would be incorrect to say Starbucks is running itself, but it's in a great place. And you step into the role of, is it executive chairman? Yes, executive chairman, with Oren as the CEO. In 2000. Yeah.

So at this point, I don't want to say, it would be incorrect to say Starbucks is running itself, but it's in a great place. And you step into the role of, is it executive chairman? Yes, executive chairman, with Oren as the CEO. In 2000. Yeah.

What was your... I think I was physically and emotionally exhausted. Kids were getting older. I had missed a lot. Just think about all the things we were doing. And I had so much confidence in Oren, so it was no problem. And so that's what I did. But I was still engaged, but I was not running it day to day.

What was your... I think I was physically and emotionally exhausted. Kids were getting older. I had missed a lot. Just think about all the things we were doing. And I had so much confidence in Oren, so it was no problem. And so that's what I did. But I was still engaged, but I was not running it day to day.

And at this point, it's 3,500 stores. The company's doing $2.2 billion in revenue. It kind of feels like, okay, I can get some distance. I can do other things in life. It's going to work out. At some point, Oren transitions the CEO role to Jim Donald, which I assume you're also very involved in working with him. What was that transition about?

And at this point, it's 3,500 stores. The company's doing $2.2 billion in revenue. It kind of feels like, okay, I can get some distance. I can do other things in life. It's going to work out. At some point, Oren transitions the CEO role to Jim Donald, which I assume you're also very involved in working with him. What was that transition about?

Oren never wanted to be the CEO. He's not a front guy. In fact, he's shy and never wanted to be on the stage as a CEO. So he said, I'll do it for a couple of years. But he's always kind of knocking on my door saying, we need a new CEO. And we didn't have anyone internally.

Oren never wanted to be the CEO. He's not a front guy. In fact, he's shy and never wanted to be on the stage as a CEO. So he said, I'll do it for a couple of years. But he's always kind of knocking on my door saying, we need a new CEO. And we didn't have anyone internally.

br didn't want it um and so we did a search we met jim donald great great guy had all this operational experience um and then certain things started appearing we would just weren't hitting our stride the way we usually do the economic environment was getting tougher and uh things just kind of unveiled itself that it wasn't gonna work out.

br didn't want it um and so we did a search we met jim donald great great guy had all this operational experience um and then certain things started appearing we would just weren't hitting our stride the way we usually do the economic environment was getting tougher and uh things just kind of unveiled itself that it wasn't gonna work out.