Starbucks Executive Chairman Howard Schultz Steps Down After 40 Years

Starbucks Chairman Howard Schultz To Step Down : The Two-Way

Howard Schultz announced Monday that he would retire as the executive chairman of Starbucks, and hinted that he might run for president and challenge President Trump in 2020.

He became Starbucks' executive chairman past year, handing the chief executive job to Kevin Johnson at a time when growth in Starbucks' dominant USA market was showing signs of cooling.

Schultz will also resign from Starbucks' board and will be named chairman emeritus, the company said.

Schultz's announcement triggered immediate speculation that he may consider entering politics as a Democrat and run for the White House two years from now.

"I want to be truthful with you without creating more speculative headlines", he said in discussing his political ambitions in an interview with The New York Times.

"One of the things I want to do in my next chapter is to figure out if there is a role I can play in giving back", he said. In the memo he said he'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".

More news: Russian Envoy: Deal Reached to Remove Iranian Forces From Golan

"I still feel like a kid from Brooklyn who grew up in public housing", Schultz said about his departure.

Schultz stepped down as Starbucks' longtime CEO in 2017, clearing the way for Kevin Johnson as his successor.

In the meantime, he plans on working on his family foundation, and writing a book about the social responsibility companies have.

Speaking to CNN about the closure, Schultz said "we realize that four hours of training is not going to solve racial inequity in America or anyone coming into our stores who may have a problem". Starbucks closed all of its company-owned stores in the USA for four hours last week so employees could undergo racial bias training. Shares of Starbucks have risen 21,000 percent since the company's initial public offering in 1992; an investor who had put in $10,000 then would have more than $2 million today.

"Ullman, former chairman and CEO of J.C. Penney, was named chair, while Mellody Hobson, president and director of Chicago-based investment management firm Ariel Investments, will be named vice chair", reports CNBC.

Related News:



Most liked

What to Expect at Apple’s WWDC 2018 Event
The WWDC 2018 , just like its predecessors, will give us our first glimpse of the new iPhone and the Mac softwares. This feature will help iPhone and the iPad users cut down on screen time and from time to time do a digital detox.

SCOTUS: Colorado Baker Can Object To Making Cake For Same-Sex Union
The decision does not state that florists, photographers, or other services can now refuse to work with gay couples. The disputes have developed since the Supreme Court created same-sex marriage in the United States a few years ago.

Apple has new features to limit your phone addiction
If you tap it, you'll be prompted to record your phrase of choice, which will become the phrase that app is linked to. Apple also added a new app Measure that can "quickly gauge the size of real-world objects similar to a tape measure".

Microsoft Agrees To Acquire GitHub For $7.5 Billion
Microsoft has been a developer-focused company from the very first product we created to the platforms and tools we offer today. Potential synergies also exist between GitHub and Microsoft's hybrid cloud platform Azure, as well as LinkedIn.

Russian Journalist Reported Dead Shows Up Alive on Ukrainian TV
Arkady Babchenko said the plot was the only way to save his life. "Wish it was always like that". Once he was inside the morgue and the doors were closed he "came back to life".

Vermont will offer $10K to remote workers who move there
Last year saw the state's first increase in population in four years, and it was by a mere.05 percent, according to the bureau. The northeastern USA state of 625,000 people has gorgeous landscapes, great ski slopes-and a rapidly shrinking tax base.

Xiaomi Mi 8 launched alongside Mi 8 Explorer Edition, Mi 8 SE
Xiaomi and Amazon India teasers have already been dropping big hints about the next Y-series smartphone. Xiaomi says the Mi 8 is the first phone to use dual-frequency Global Positioning System .

Gaza militants launch barrages across border, Israel hits back with air strikes
There were no reports of further attacks after Hamas announced early on Wednesday that it would cease fire if Israel did the same. The flare up comes after weeks of tensions heightened by the killing of dozens of Palestinian protesters by the Israeli military.

30-year-old son finally moves out of his parents’ house
In a letter dated February 18, his parents offered him cash and advice on how to navigate being out of their home. Instead of letting him in, his father offered to look for specific items and bring them out if he found them.

Visa announce 'disruption' preventing payments from being processed
The cause remains unknown and Visa offered no information of when the problem will be fixed. This is a developing story and will be updated as more information becomes available .

Top North Korean envoy boards flight for talks in US: Yonhap
He's a former US diplomat who's been involved in negotiations with North Korea over the years. Moon's rapprochement with the North has divided the South Korean government.

What the Media Overlooked in Trey Gowdy Interview
Gowdy said he believes Trump would have picked someone else had he known Sessions would step back from that investigation. Sessions was an early supporter of Trump's campaign and the first sitting senator to endorse his candidacy for president.

Lions, tigers, jaguar and bear escape zoo in Germany
Area residents were advised to stay in their houses, close their doors and windows and keep an eye out for the missing animals . The bear escaped from the 30-hectare zoo grounds into the rolling hills of the Eifel region and had to be shot, Raskopp said.

Warriors outlast Cavaliers to draw first blood in NBA Finals
Smith said after the game that he realised the Cavs were level, and " was trying to get enough to bring it out to get a shot off. The two-time National Basketball Association champion also said that he hopes to get the best of James in this year's Finals.

Mega Man 11 Release Date and Gameplay Details Officially Revealed
Are you looking forward to Mega Man 11? There are eight Robot Masters Mega Man will have to defeat in the new game. Those who pre-order the game through a qualifying store will receive a free in-game bonus soundtrack.