Black Kassel - Snack like Royalty
Howard Schultz to Bid Farewell to Starbucks after 40 Years

Howard Schultz to Bid Farewell to Starbucks after 40 Years


SEATTLE, WA
Wednesday, June 6th, 2018

After four decades spent as CEO and Chairman, Howard Schultz is stepping down from his role as Executive Chairman and member of the Board of Directors for Starbucks Corporation. Shultz will be honored as the Chairman Emeritus, effective June 26th. During his tenure with the company, Starbucks locations shot up from 11 stores to over 28,000 stores that can be found in 77 countries, and he assisted in the 21,000 percent gain in the value of its stock price since its 1992 public offering debut.

Howard Schultz, Former Executive Chairman, Starbucks“I set out to build a company that my father, a blue-collar worker and World War II veteran, never had a chance to work for,” Schultz said in a letter to past and present Starbucks partners. “Together we’ve done that, and so much more, by balancing profitability and social conscience, compassion and rigor, and love and responsibility.”

According to a press release, the company’s growth was a result of Schultz’s decisions to provide uncommon benefits for Starbucks employees, such as comprehensive healthcare, stock ownership, and free college tuition.

Howard Schultz at Starbucks' original Pike Place Market location

After entering Seattle’s iconic Starbucks at Pike Place Market in 1981, Schultz and his wife, Sheri, moved from New York to Seattle, where he took the role of Director of Operations and Marketing. Schultz purchased Starbucks with the help of local investors, and, from there, he brought his vision of coffee house life and its capabilities to America and other locations throughout the world. His unique idea of what the coffee house could be welcomed it as a third place between home and work—a comfortable and welcoming space that offered community and human connection. He transitioned from CEO to Executive Chairman on April 3, 2017, and he focused on the company’s impact on social initiatives, innovation, and global development of the premium Reserve brand, Reserve Roasteries, Reserve stores, and the partnership with renowned artisanal Italian bakery, Princi.

“There are no words to fully express our gratitude to Howard for the extraordinary company he has built. He’s helped Starbucks earn the respect of millions around the world by always being true to a higher calling, and always being bold in creating a better future. He’s taught all of us that it’s possible to be a very different kind of public company. That must, and will, continue on my watch,” CEO and member of the Board of Directors Kevin Johnson said.

Howard Shultz steps down as Executive Chairman after four decades in the role

Schultz will now oversee Milan’s Starbucks Reserve Roastery opening on September 6, with the company’s anticipated entry into Italy, as well as the company’s New York Roaster in late October. Myron E. “Mike” Ullman will be the new Chair of the Board, and Mellody Hobson will serve as Vice Chair of the Board, effective upon Schultz’s retirement.

“Because of your creativity, your hard work, and the love that you have poured into the company, Starbucks today is widely embraced and respected. As I prepare to step away, I’d like to humbly remind you not to lose sight of what matters most: your fellow partners and our customers,” Schultz expressed in his letter. “Kevin Johnson is a true servant leader, and he will lead Starbucks as this great company enters its next journey. It’s our duty as leaders to constantly reimagine Starbucks. I am honored to call Kevin my friend and partner. And Starbucks is fortunate to have him. This leadership team is extraordinarily capable. They, too, believe that Starbucks has a responsibility to use our scale for good.”

How will Schultz’s transition out of Starbucks’ chain of command alter the course of its success story, and will that reflect on other restaurant chains in the industry? Deli Market News will continue to report.

Starbucks
Topics:


Black Kassel - Snack like Royalty

Have a new product, press release or story idea?

Let us know

In This Story


Inspiring and nurturing the human spirit—one person, one cup, one neighborhood at a time.

American Butter Institute Urges FDA to Address Mislabeled “Butter” Products

The company urges the USDA to take prompt enforcement action against seven “butter” substitutes that allegedly violate the agency’s food labeling requirements.
View Press Release

Harvest A Great Time This Fall With These Hampton Farms Recipes On Your Table

The company partners with and supports local farms to seed and harvest all its peanuts.
View Press Release

Beetology Introduces New Beverages

The company launches cold-pressed, simple, nutrition-packed wellness juices made from nature's superfood—beets.
View Press Release

The Spice Lab is Now USDA NOP Organic Certified

The USDA Organic seal assures consumers that products are 95% or more certified organic.
View Press Release

Valio Unveils On-Trend Food Innovations and Ingredients Solutions at SIAL Paris

The company plans to showcase its latest food innovations and tailor-made ingredients solutions at the upcoming show.
View Press Release

Charlotte-Based Hissho Sushi Makes N.C. Mid-Market Fast 40 List

This year marks 20 years since Hissho Sushi was founded in Charlotte, NC.
View Press Release

Anheuser-Busch Inbev & DS Smith Plastics Named 2018 Excellence in Reusable Packaging Award Winners

RPA announces two winners in the 2018 Excellence in Reusable Packaging award program.
View Press Release

It's Pumpkin Spice Season!

Litehouse debuts a fresh look for its line of deliciously indulgent caramel dips and a limited-edition flavor: Pumpkin Spice Caramel.
View Press Release

Time to Step Up Your Fall Menu Plan; Pereg Natural Foods Gets You Started

Suffering from pumpkin spice fatigue? Here are 14 savory reasons why you still need pumpkin spice in your life.
View Press Release

New Snack Bars Take the Tahini Craze to Healthy Delicious Heights

Absolutely Gluten Free introduces TahiniBAR, the energy bar made from sesame seeds, in three exciting flavors.
View Press Release