Howard Schultz Steps Down From Starbucks
Image by Getty Images
Starbucks Corp, the world’s biggest coffee chain, said on Monday Executive Chairman Howard Schultz is stepping down, effective June 26.
Schultz, who has been with Starbucks for nearly four decades, is credited with turning the company into a popular household name and growing it from 11 stores to more than 28,000 in 77 countries.
Last year, Schultz stepped down as chief executive officer to become executive chairman, handing the top job to Kevin Johnson.
Most recently, he was involved in steering the company through an anti-bias training program that was kickstarted after a Philadelphia cafe manager’s call to police resulted in the arrests of two black men who were waiting for a friend.
Starbucks’ board named Myron Ullman, who was previously chairman and CEO of struggling retailer J.C. Penney Co, as its new chair and Mellody Hobson vice chair effective upon Schultz’s retirement.
Schultz will also resign from Starbucks’ board and will be named chairman emeritus, the company said in a statement.
A message from our CEO & publisher Rachel Fishman Feddersen
I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.
At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and polarized discourse.
Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.
— Rachel Fishman Feddersen, Publisher and CEO
