Starbucks announced Wednesday that founder Howard Schultz is stepping down from its board of directors – but the former chairman’s name will be sticking around.
Though Schultz is retiring, Starbucks is giving him the title of “lifelong Chairman Emeritus.” Schultz is stepping down as part of a planned transition, Starbucks said in a statement. He previously stepped down as CEO in March, as employees at stores across the nation moved to unionize. That was Schultz’s third time serving the CEO role.
“I look forward to supporting this next generation of leaders to steward Starbucks into the future as a customer, supporter and advocate in my role as chairman emeritus,” Schultz said in the statement. Starbucks said Schultz is using retirement to focus on his wife, Sheri, and on a “range of philanthropic and entrepreneurial investments.” The coffee giant elected Wei Zhang, senior advisor to Alibaba Group and who served as president of Alibaba Pictures Group, to its board beginning October 1.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former Starbucks CEO Howard Schultz steps down from coffee chain's boardThe former CEO of Starbucks, Howard Schultz, is leaving the company’s board and transitioning to a chairman emeritus role.
Read more »
Former Starbucks CEO Howard Schultz to step down from coffee chain's boardThe former CEO of Starbucks, Howard Schultz, is leaving the company’s board and transitioning to a chairman emeritus role.
Read more »
Howard Schultz Steps Down from Starbucks BoardSchultz had returned to coffee chain’s C-suite and board last year to help navigate challenges with workers, operations.
Read more »
Longtime Starbucks leader Howard Schultz steps down from the coffee chain's boardLongtime Starbucks leader Howard Schultz is stepping down from the company’s board of directors. Schultz is credited for transforming the Seattle-based business into the coffee giant it’s known as today.
Read more »
Longtime Starbucks leader Howard Schultz steps down from the coffee chain's boardLongtime Starbucks leader Howard Schultz is stepping down from the company’s board of directors.
Read more »