Photo courtesy of Starbucks
Howard Schultz Steps Down
Starbucks executive chairman Howard Schultz announced his departure from the company in a June 4 letter to employees.
Howard Schultz, founder of the world’s leading retail coffee company, announced his retirement Monday in a letter to employees posted on the Starbucks website.
Schultz expanded a business that started with 11 shops in 1987 and now total 28,000 retail outlets in 77 countries. In doing so, he writes in his letter, “Starbucks changed the way millions of people drink coffee, this is true, but we also changed people’s lives in communities around the world for the better.”
He steps down as executive chairman and a member of the board of directors on June 26 after 40 years with the company. He had already turned over c.e.o. duties in April 2017 to Kevin Johnson. He will retain an honorary title of chairman emeritus.
In his letter, Schultz writes more about the company’s role in society than its business successes and closes by saying: “I believe in my heart that Starbucks partners will continue what was started decades ago. Great coffee and our stores will always be catalysts for community. Now more than ever the world needs places to come together with compassion and with love. Providing the world with a warm and welcoming third place may just be our most important role and responsibility, today and always.”