CNBC reports that "outgoing Starbucks CEO Howard Schultz says that he’ll never return to the top job after the coffee giant announced a new succession plan last week … Laxman Narasimhan, who is currently CEO of Lysol owner Reckitt, will join the coffee company in October and take the reins in April. Schultz will remain on Starbucks’ board after Narasimhan succeeds him and act as an advisor."
The story notes that "Schultz, 69, returned to Starbucks for his third stint as CEO in April after Kevin Johnson retired. Despite speculation from Wall Street and industry insiders, Schultz held firm to his promise that his current stretch would just be temporary."
“I’m never coming back again, because we found the right person,” Schultz tells CNBC.
- KC's View:
I predicted he'd be back for a third term as CEO, and while I'm not ready to suggest that he'll be need a fourth time, I certainly wouldn't bet against it. A messiah complex is hard to cure.
If things go well under Narasimhan, then things will be fine. But if the new CEO, who has no operational retail experience to speak of, is unable to recapture the old magic, or come up with some new transformative tricks, then I think it is entirely possible we'll seem him again.
There is a line from "Hamlet:" "The lady doth protest too much, methinks."
Methinks the same thing about Schultz.