Starbucks Chairman Schultz to retire from the coffee giant | CMO Strategy

Howard Schultz onstage at the annual shareholders meeting in 2017. Schultz is stepping down as Starbucks executive chairman and leaving the company’s board of directors

Howard Schultz onstage at the annual shareholders meeting in 2017. Schultz is stepping down as Starbucks executive chairman and leaving the company’s board of directors

Starbucks Corp Executive Chairman Howard Schultz is stepping away from hands-on management at the global coffee chain, effective June 26, fuelling speculation that the outspoken, liberal-leaning executive will make a US presidential bid. He said that will become chairman emeritus.

Last year, Schultz stepped down as chief executive officer to become executive chairman, handing the top job to Kevin Johnson. The company's subsequent reaction - a series of policy changes and last week's high-profile closure of 8,000 USA stores to provide anti-racial bias training to 175,000 employees - marked what Schultz called the start of a new era at Starbucks.

Starbucks Chairman and CEO Howard Schultz presents during the Starbucks 2016 Investor Day meeting, in New York, Wednesday, Dec. 7, 2016.

In an interview with the New York Times, Mr Schultz did not rule out a run for president.

"I'll be thinking about a range of options for myself, from philanthropy to public service, but I'm a long way from knowing what the future holds", Schultz said in the memo.

Trump confirms NKorean official headed to NY
According to the State Department, the US team met with North Korean officials at the same DMZ site, the village of Panmunjom. Since then, North Korea has rejected United States demands for it to unilaterally abandon its nuclear weapons programme.

Former Starbucks CEO Howard Schultz announced that he would be retiring as executive officer of the company, and hinted that he might seek public office. Together we've done that, and so much more, by balancing profitability and social conscience, compassion and rigor, and love and responsibility. "For some time now, I have been deeply concerned about our country - the growing division at home and our standing in the world".

Starbucks said Mr Schultz planned to write a book and spend time with his family this summer.

"We realize that four hours of training is not going to solve racial inequity in America", Schultz told CNN's Poppy Harlow last week. Shares in Starbucks dropped 1 percent to $56.50 in extended trading after the announcement.

Starbucks' board named Myron Ullman, who was previously chairman and CEO of struggling retailer J.C. Penney, as its new chair and Mellody Hobson vice chair effective upon Schultz's retirement.

The move followed the April 12 arrest of two black men in a Philadelphia Starbucks, which sparked outrage, protests and soul-searching about racial tensions that have been exacerbated under President Trump.

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