Howard Schultz, the current CEO of Starbucks, is planning to step down next month because the 63-year-old business guru says he wants to focus on other “humanitarian” projects. I wonder if he considers trolling a humanitarian project? Anyway, Starbucks has fallen in public opinion polls, especially after Schultz announced a plan to hire 10,000 refugees so they can stay in America.
Democrats tried to twist his words saying he was going to hire refugees in their home countries? Say what? If they’re in their home countries, how are they refugees? Well, in the early 2010s, Schultz tried to step away but was handed the business back after profits started to fail. Schultz then increased the company’s profits, making it successful once more.
But, as of late, it seems boycotts of Starbucks is on the rise. I haven’t been to a Starbucks in almost nine months, and I used to love it. I don’t miss it at all. Given the current political climate, it’s anyone’s guess what will happen to the company after Schultz’s departure.
This is from the Daily Mail:
Howard Schultz, the current CEO of Starbucks, will step down from his role at the giant coffee chain next month.
After shaping the brand into an international business, Schultz will be stepping away from his position on April 2, in order to focus on innovation and social impact activities.
Schultz, 63, first tried to diminish his role in the company in 2000, but after traffic in stores decreased, he was handed back the reins in 2008 with booming success.
The businessman, with an estimated net worth of $3.1billion, will remain at Starbucks as executive chairman and will focus on strengthening the company’s high-end coffee shops.
Schultz will be replaced as CEO by Kevin Johnson, Starbucks’ chief operating officer.
The self-made billionaire was rumored to have been considered Hillary Clinton’s running mate in the recent presidential election, and the news of his departure as chief executive was made in December.
He ‘is definitely being pursued’ as a Democratic presidential candidate in 2020, The Seattle Times reported.
Schultz bought and turned the Seattle-based business from a fledgling company with four stores to a massive chain with 25,000 franchises worldwide.
Starbucks is estimated to be worth $85billion, according to Forbes.
In the announcement that he was stepping down, Schultz said he ‘will shift his focus to innovation, design and development of Starbucks Reserve® Roasteries around the world, expansion of the Starbucks Reserve® retail store format and the company’s social impact initiatives’ and ‘focus on Starbucks next wave of retail innovation.’