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.
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.
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.
-
Cameron House Resort & Spa: a luxurious lakeside haven
The Week Recommends This stunning five-star resort on the shores of Loch Lomond is perfect for a special Scottish getaway
-
Albania’s AI government minister: a portent of things to come?
In The Spotlight A bot called Diella has been tasked with tackling the country's notorious corruption problem
-
Hyatt Regency Lisbon: a tranquil oasis in the historic district of Belém
The Week Recommends With its sprawling spa and prime location overlooking the River Tagus, this luxury hotel is a great place to escape the bustle of the city
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year