Jim Cramer has confidence in new Starbucks CEO Brian Niccol due to his successful tenure at Chipotle. Despite a shaky start, with declining same-store sales and earnings, Niccol’s strategies, including empowering baristas and potentially reducing menu items, aim to rejuvenate the brand. His hefty $96 million compensation raised eyebrows, yet most was compensation for options lost from Chipotle. Although the first quarter under Niccol showed improvement in same-store sales declines, he faces pressure to deliver better results amid plans for layoffs and operational changes.
Jim Cramer recognizes the potential of Starbucks' new CEO Brian Niccol, attributing his optimistic outlook to Niccol's prior success at Chipotle, emphasizing that effective CEOs yield best results for shareholders.
Despite a turbulent start with declining same-store sales and earnings, Niccol has shown signs of recovery at Starbucks, reinforcing his strategy to empower baristas and streamline operations.
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