Starbucks (SBUX 1.13%) CEO Kevin Johnson announced his retirement on March 16, with former leader Howard Schultz being named as his interim replacement. Who will the coffee powerhouse tap as its next full-time CEO? On this episode of "Ask Us Anything" on Motley Fool Live, recorded on March 18, Fool.com contributors Jason Hall, Dan Caplinger, and Matt Frankel dream up some dream candidates for the top job.
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Jason Hall: Let's dream here. Let's have a little fantasy CEO teams here. Who's some other CEOs that we think out there would be really interesting to bring into Starbucks? I'm going to toss an idea out there. Matt, I think you're probably right. I think they're going to continue to lean on having somebody with a tech focus. I think that's the case. But the counterargument is looked at Chipotle. Chipotle brought in a great operator to replace Steve Ells as the CEO, from Yum! Brands, Taco Bell. They brought in a CEO that had done really well as an operator of a competitor to Chipotle. Similar theme, but very different businesses and what they try to do in terms of food with integrity versus Doritos on tacos, right? But somebody that came in as a great operator but also leaned on technology. I'm curious. Maybe they take a more Chipotle approach here. Any names come into mind?
Matt Frankel: I can name one that I'd like to see them name, but I don't think it has any chance of happening. That's Sarah Friar, who is currently CEO of Nextdoor and was formerly CFO of Square [now Block].
Hall: Yeah.
Frankel: Who is essentially responsible for turning the Cash App into what it is today. I think that would be a fantastic hire and that expertise would translate tremendously to Starbucks' app ambitions. That's the biggest growth potential area. That's what I'd like to see, but she was just recently made CEO of Nextdoor, so I don't know if that's even a possibility, but I would buy the stock tomorrow.
Hall: Dan, can you top that? That'd be pretty good get?
Dan Caplinger: I'm not sure if it's top, it's a different direction. It's more like what you were talking about Chipotle. I'd be curious. Lynsi Snyder, In-N-Out Burger, one of the top CEOs of 2021 and really well known for an aggressive strategy in terms of trying to build up business, trying to drive customer loyalty. It's a huge customer loyalty brand. I think Starbucks has the same ability. Starbucks hasn't been nearly as much in your face about the strength of their brand as In-N-Out Burger has been. I think In-N-Out Burger has benefited from that. If you could get Lynsi Snyder interested in that high-profile job, even higher profile than the West Coast-oriented In-N-Out Burger, it'd be a fascinating move, it'd be case studies for business schools for years to come.
Hall: In-N-Out's a very successful privately held business. I think the founding family still owns it. Definitely accountable to the owners. That's something else I think shareholders of Starbucks would appreciate. Probably going to be hard to do it, Dan, but that that would be pretty awesome.
