Comment on Howard Schultz Is Stepping Down As Starbucks Executive Chairman

Howard Schultz Is Stepping Down As Starbucks Executive Chairman

SEATTLE — Starbucks Corporation today announced that Howard Schultz is stepping down as executive chairman and member of the Board of Directors and will be honored with the title of chairman emeritus effective June 26, 2018. Schultz, who reimagined the Italian coffeehouse tradition in America and redefined the role and responsibility of a publicly-held company, announced his departure as executive chairman of Starbucks telling over two million past and present partners (employees), “We did it together, by balancing profitability and social conscience.” During his four decades as ceo and chairman, Schultz grew Starbucks from 11 stores to more than 28,000 stores in 77 countries, while demonstrating that a business can simultaneously deliver best-in-class financial performance and share success with its people and the communities it serves. Under Schultz’s leadership, Starbucks has delivered a 21,000% gain in the value of its stock price since its initial public offering in 1992.

 

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