Starbucks chairman Howard Schultz to quit amid rumors of run for office

Starbucks chairman Howard Schultz to quit amid rumors of run for office

Starbucks chairman Howard Schultz to quit amid rumors of run for office

Howard Schultz, who helped build Starbucks into a global food industry powerhouse, is stepping down as executive chairman of the coffee chain. Schultz will keep the honorary title of chairman emeritus.

On April 3, 2017, Schultz transitioned from ceo to executive chairman, shifting his full-time focus to the company's social impact initiatives as well as innovation and global development of the company's premium Reserve brand, including Starbucks Reserve Roasteries, Reserve stores and the Company's partnership with renowned artisanal Italian bakery, Princi.

Last week, the company closed its U.S. stores for several hours for bias awareness training, one of the measures it promised after the men in Philadelphia were arrested as they waited for an associate but hadn't bought anything.

Schultz's announcement triggered immediate speculation that he may consider entering politics as a Democrat and run for the White House two years from now.

Starbucks, which styled itself as a "third place" for Americans to congregate along with work and home, also because synonymous with an urban style that bred imitators and changed the food business.

"I want to be truthful with you without creating more speculative headlines", he said in discussing his political ambitions in an interview with The New York Times.

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Starbucks Chief Executive Howard Schultz speaks during the company's annual shareholders meeting in Seattle, Washington March 18, 2015. He spoke to the growing division in the country and America's standing in the world.

"One of the things I want to do in my next chapter is to figure out if there is a role I can play in giving back", he continued.

But when asked directly if he was thinking about running for president, he did not rule out the possibility. I intend to think about a range of options, and that could include public service.

"I told myself a long time ago that if I was ever going to explore a second act, I couldn't do it while still at the company", he added.

Myron Ullman, former CEO of J.C. Penney, will take over for Schultz.

Starbucks has also been a leader in workers' benefits under Schultz.

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