Starbucks chair Howard Schultz steps down, sparking 2020 speculation
The man who built Starbucks from the ground(s) up is stepping down.
Howard Schultz is leaving his role as executive chair of the company, he told employees Monday, ending his nearly 40-year run behind the counter. Myron Ullman, J.C. Penney's former chairman and CEO, will replace Schultz on the board, per The New York Times.
Schultz started as Starbucks' director of operations and marketing in 1982, and served as its CEO from 1987 to 2000, per CNBC. He returned as CEO in 2008 before transitioning into the chairman role last year.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Through it all, Schultz aimed to create a company that fosters "respect and dignity" — values reflected in a note he left Monday on the wall of the chain's original Pike Place location, right next to the espresso bar he installed in 1987.
Some have cited Schultz as a potential Democratic presidential candidate for 2020, a not-so-tall order in the age of Trump. When asked if he was hanging up his green apron to run for the White House, Schultz told the Times he's "deeply concerned" about the U.S. and plans to give back. But that could be through public service or just philanthropy.
Something to sip on.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
-
Today's political cartoons - December 21, 2024
Cartoons Saturday's cartoons - losing it, pedal to the metal, and more
By The Week US Published
-
Three fun, festive activities to make the magic happen this Christmas Day
Inspire your children to help set the table, stage a pantomime and write thank-you letters this Christmas!
By The Week Junior Published
-
The best books of 2024 to give this Christmas
The Week Recommends From Percival Everett to Rachel Clarke these are the critics' favourite books from 2024
By The Week UK Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published