Four career lessons from a four-time CEO

National restaurant chains, an upscale corner store and a hair salon have more in common than you might think. They are all businesses that thrive on well-loved brands meeting customer needs. They are also all verticals where Liz Williams ’04 MBA has gained critical executive experience that helped her make the climb from consultant to CEO.  

Today the CEO of a California-based fired grilled chicken restaurant chain, El Pollo Loco, Williams began her post-MBA career journey as a consultant at Boston Consulting Group. Next, she moved to YUM! Brands, a leader in quick service restaurants, rising to become the CFO of Taco Bell and later as the president of the company’s Taco Bell International division. She then stepped into the CEO role, first at the cult favorite salon chain, Drybar, and later with start-up chains like the vegan restaurant, Hart House, and high-growth convenience store Foxtrot before joining El Pollo Loco in February. Throughout her career, Williams has focused on honing in on skills that would give her the flexibility to grow professionally.  

“I have always been curious, driven and tenacious,” Williams recently told Kellogg students during a visit to the Global Hub in Evanston. Here are four pieces of advice she offered during her presentation:  

Play into your strengths to establish credibility  

After graduating from Kellogg, Williams had her career aspirations set on the consumer space, she says. However, her previous experiences were within the tech industry, after starting her career with Dell out of college. Recognizing the importance of aligning her skills to projects that she could confidently lead, she opted to focus her energy and efforts in carving out a niche to help her build a forward-looking career. 

“I was really passionate about doing consumer work, and as much as I didn’t want my first couple of consulting cases to be tech, that’s what I knew,” Williams explained. “I got the advice from someone that said, ‘Do tech for your first couple of cases because that is your near-in as you learn the consulting field.”  After learning the ropes in consulting, she eventually migrated to client work in the consumer practice and knew she had found her passion. 

After six years in consulting, she moved in-house as a senior director of corporate strategy at YUM! Brands and then as CFO of Taco Bell. Over the next nine years, she amassed a wealth of experience and credibility in the restaurant and retail sectors. These foundational pillars provided her with the freedom to explore new avenues and embrace change. “I worked really hard, and I checked a lot of boxes in terms of improving myself,” Williams said. “Try and find areas that you know you’re going to shine, be curious and always open to learning.”   

The key takeaway? Identify areas where you can establish your brand and leverage them as springboards for growth. 

Lead with influence — not orders

Williams emphasized that leadership hinges on surrounding yourself with talented individuals while fostering a collaborative environment. “Nothing replaces a good team, so make sure to be around good people who are smarter than you,” she said. “Kellogg does an amazing job of fostering that within us.” 

Unlike consulting, corporate leadership demands a more nuanced approach — one that involves guiding and inspiring teams rather than dictating solutions. “Companies pay consulting firms a lot of money to be direct and tell them the solution but that doesn’t really work in a corporate environment,” said Williams. “Take pause and think through, ‘How am I going to influence?’” Transitioning from consulting to corporate, she learned the invaluable art of influence and collaboration. 

Stack your skills 

From honing her analytical thinking while at BCG to navigating technical finance challenges as a chief financial officer, Williams emphasizes the importance of embracing learning opportunities. Don't shy away from technical challenges; instead, seize them as opportunities for growth and development. 

At one point in her career, she says, she set out to boost her knowledge in technical finance topics. “I hired a really good CPA who could guide me in those areas, and I made sure to ask a lot of questions,” she shared. “In hindsight, I wished I had taken more of the technical finance classes at Kellogg. Take some classes that are challenging even if you take them as pass/fail. Don’t be shy about really leaning in and learning.” 

Stay curious and learn through doing 

By immersing herself in front-line experiences, even after she entered the C-suite, Williams gained invaluable insights into customer needs and operational challenges. “When I started as CEO at Dry Bar, one of the questions was, ‘How do we improve our service?’ It’s very hard to know how to do that just by sitting in the office,” explained Williams. “So, I worked at the front counter for a week. And when I started as CEO at Foxtrot, I did the same. I worked some busy weekend shifts in the stores. Nothing makes you learn it more than being in the footsteps of team members.” Williams encourages a spirit of experiencing business operations firsthand. 

Cultivating curiosity and humility accelerates the learning process and fosters a deeper understanding of the business landscape. “Being curious and humble is one of the fastest ways to learn a business,” said Williams.  

Williams’ journey from consulting to CEO underscores the importance of strategic professional growth, collaborative leadership, continuous learning and curiosity. Her professional journey serves as a reminder that career success is not just about climbing the ladder, but also about navigating your career with purpose, passion and a commitment to continuous growth. 

Watch Kellogg Leader Speaker Series: Liz Williams ’04 MBA

Read Next: 5 leadership lessons from KAYAK CEO Steve Hafner ’97 MBA