Starbucks chair Howard Schultz steps down, sparking 2020 speculation

Howard Schultz.
(Image credit: Getty Images)

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.

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Kathryn Krawczyk

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.