Howard Schultz, former chief executive officer of Starbuck who served on the company board, has decided to retire. Post his retirement, Schultz will become lifelong chairman emeritus, and will hold a role that will bring no official position on the board, hold no voting power, attendance or any other rights.
As per a report, his exit comes after a period of five months of a new CEO taking up the mantle. This movement also comes amid a rise in union organising in the company’s cafes in the US.
During his 41 year stint at the coffee giant, Schultz transformed Starbucks into a global coffeehouse chain with 36,000 cafes bustling in 86 markets from selling only whole beans.
Schultz is the co-founder of Schultz Family Foundation and emes project llc. His innings at Starbucks began in 1987 as chairman and CEO.