Starbucks' Howard Schultz steps down as executive chairman

Starbucks' Howard Schultz steps down as executive chairman

"Schultz's latest leadership transition sparked speculation about his potential political plans".

Shultz said in the memo: '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'. In a farewell letter to employees, Schultz noted he had created a personal website, which talks of a "new chapter".

Howard Schultz is leaving his job at Starbucks - and says he may consider running for president.

He was heavily involved in steering the company through an anti-bias training program last month.

He has spoken frequently about race, and Starbucks has taken progressive stances on social issues - including gay marriage, immigration and President Trump's travel ban. He is facing cooler growth in Starbucks' dominant USA market and intense competition from rivals - ranging from high-end coffee shops to more affordable fast-food chains - as the company undertakes a massive expansion project in China.

"This is not a time to build walls". "We have an awesome responsibility not to be desensitized by the time we are living in, not to accept the status quo of a lack of dignity and a lack of respect, but to rise above it and to do all we can".

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Starbucks Executive Chairman Howard Schultz on the USA economy, the impact of the tax reform legislation. Schultz signed his announcement "Onward with love, Howard". Myron Ullman, the former chairman and CEO of retail giant J.C. Penney, will replace Schultz as executive chairman of the board.

Starbucks declined to make Schultz or other Starbucks executives and board members available for comment.

Schultz, 64, became director of operations and marketing at Starbucks in 1982.

"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", Schultz said in a letter to Starbucks employees. Most recently, under Johnson's helm, the company came under public scrutiny after the arrest of two African American customers in a Philadelphia-area store.

The company temporarily closed more than 8,000 U.S. stores after the arrest for racial bias training.

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