Starbucks Chairman Schultz to retire from the coffee giant | CMO Strategy
03:59, Jun 5, 2018
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Howard Schultzannounced 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.
Howard Schultz speaks during a media event in Beijing in 2012, when he was chairman and CEO of Starbucks Corp.
Myron Ullman will take over as the new head of the board, the company said in a statement.
Schultz told The New York Times he hadn't decided on his next move yet, but "for some time now, I have been deeply concerned about our country - the growing division at home and our standing in the world".
In an interview with The New York Times, Schultz, a Democrat who has publicly criticized US President Donald Trump, did not deny speculation that he was considering a political career.
Asked directly if he was considering running for president, he said, "I intend to think about a range of options, and that could include public service. For years I've had a dream to build a different kind of company, one that has the potential to enhance lives and endure long after I was gone".
Schultz, known for being outspoken on social issues ranging from gay marriage to government gridlock, was heavily involved in steering the company through an anti-bias training program last month.
And I still have dreams for the company, and for you.
Schultz is leaving a Starbucks that is still growing in the USA - but not at the spectacular rates of the past.
Since joining the company in the 1980s, Schultz saw Starbucks grow from 11 outlets to 28,000 stores, along the way changing the expectations of consumers when it comes to coffee consumption.
Schultz stepped down as CEO a year ago and was succeeded by Kevin Johnson. "I'm not exactly sure what that means yet".
The company made headlines in April when police arrested two African-American men while they were waiting for a friend at a Starbucks near Philadelphia. Together we've done that, and so much more, by balancing profitability and social conscience, compassion and rigor, and love and responsibility.
Starbucks shares were down 1.31 percent to $56.32 in after-hours trading on Wall Street.
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