Starbucks CEO Howard Schultz set to step down in 2017
Howard Schultz, chairman and chief executive officer (CEO) of Starbucks, will be stepping down in April of next year and will move into the role of executive chairman.
Kevin Johnson and Howard Schultz
Starbucks’ president and chief operating officer (COO) Kevin Johnson will replace Schultz as CEO. Johnson has been a Starbucks board member since 2009 and has served as its president and COO since 2015.
As executive chairman, Schultz will focus on innovation, design and development of Starbucks Reserve Roasteries around the world. He will also focus on expanding the Starbucks Reserve retail store format and the company’s social impact initiatives. He will continue to serve as chairman of the Board.
“As I focus on Starbucks next wave of retail innovation, I am delighted that Kevin Johnson – our current president, coo, a seven-year board member and my partner in running every facet of Starbucks business over the last two years – has agreed to assume the duties of Starbucks chief executive officer,” said Schultz in a statement. “This move ideally positions Starbucks to continue profitably growing our core business around the world into the future.”