Starbucks’ Howard Schultz on Why He’s Stepping Down

December 2, 2016

Image Caption: 
Former Starbucks’ CEO Howard Schultz says he believes that Kevin Johnson “is better prepared to be CEO on a go-forward basis” than he is.
The coffee giant’s CEO will take on a new role in April.
Exclusive Brief: 

Starbucks named Kevin Johnson its new CEO, effective in April, as Howard Schultz will step down to focus on the brand’s Reserve Roasteries and Retail stores.

Johnson, the current president and COO, will take over the CEO role on April 3, and Schultz will continue to serve as chairman of the company’s board of directors in this new role.