Word: ceo
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Eventually, though, Starbucks had to grow up and get professional managers. In 2000 Orin Smith ascended from president to CEO; Schultz stayed on as chairman of the board. During Smith's five-year tenure, Starbucks maintained its mind-blowing growth, but at the same time, it introduced sophisticated testing and R&D and took steps to boost efficiency and sales, like installing automated Verismo espresso machines. By no longer having to scoop and tamp coffee for each shot, baristas could make a drink 40% faster, moving customers through lines more quickly. Drive-throughs became standard, and the company released...
...board reinstated Schultz as CEO to revive the coffee empire. "It's a time for reinvention, and there's no one better to do it than Howard," says Howard Behar, who ran Starbucks' international operations throughout the late 1990s and as a board member voted to reinstall Schultz. The stock rallied 8%, and baristas went wild. "Woooohooooo!" read two posts on StarbucksGossip.com "Welcome back, Howie!!! All of Starbucks missed you, and we can't wait to see where you take us," read another. More than a few posts skeptically pointed out that Schultz had never gone far (his office...
...focused on the long term, it would stop reporting comp-store sales to Wall Street. Then, at the March 19 annual meeting, the company laid out its initiatives to reinvigorate the "coffee experience." Some of the projects had been kicked around, but with Schultz back in the CEO chair, everything started to get done more rapidly. "The rate at which we're making these moves is far and away faster than anything I've experienced the last few years," says COO Martin Coles...
...when our coffee bars will change the way people will perceive the beverage," he wrote 22 years ago. "It's an adventure and we're in it together." He signed it the same way he signs the company-wide memos he's taken to writing since coming back as CEO: "Onward, Howard." Starbucks turned out to be a beautiful adventure. Will it be a single or a double...
Jane L. Mendillo, who worked at Harvard Management Company (HMC) for 15 years until her departure to run Wellesley College's investments in 2002, will return as HMC's CEO this July, the University announced Thursday...