- Push-out Score determined
- After about five years in the position
- Praise and thanks for Johnson
- Howard Schultz taking over temporarily
- Search for a successor
- Johnson said 124 words
(exechange) — Seattle, Washington State, March 16, 2022 — Kevin Johnson, chief executive of Starbucks, leaves. As announced by Starbucks Corp. in a news release and in a regulatory filing published on Wednesday, March 16, 2022, Kevin R. Johnson leaves his post as chief executive officer at the chain of coffeehouses and roastery reserves, after about five years in the role, effective April 4, 2022.
Starbucks will undertake a search for a successor.
Kevin Johnson’s duties as CEO will be taken over temporarily by Howard Schultz, a former chief executive officer at Starbucks Corp., as interim chief executive officer.
“A year ago, I signaled to the Board that as the global pandemic neared an end, I would be considering retirement from Starbucks”
Kevin Johnson’s departure from the CEO post is explained as follows. Kevin Johnson said: “A year ago, I signaled to the Board that as the global pandemic neared an end, I would be considering retirement from Starbucks. I feel this is a natural bookend to my 13 years with the company. As I make this transition, we are very fortunate to have a founder who is able to step in on an interim basis, giving the Board time to further explore potential candidates and make the right long-term succession decision for the company.”
Precise information regarding Kevin Johnson’s future plans was not immediately available.
“Retire”
Starbucks said: “Kevin Johnson, president and chief executive officer, intends to retire after a 13-year tenure at the company, including the last five years as ceo.”
Starbucks further said: “On March 13, 2022, Kevin R. Johnson notified the board of directors (the “board”) of Starbucks Corporation (“Starbucks”) of his decision to retire as president and chief executive officer and as a member of the board, effective April 4, 2022.”
Share price increase since April 2017
The announcement follows an increase in Starbucks Corp.’s share price of 42% since April 2017. April 2017 is the month in which Johnson’s tenure as CEO began.
In the position of CEO since 2017
Kevin Johnson became CEO of the Company in 2017.
Johnson will transition from his current role on April 4, 2022, and will continue to serve as a Starbucks partner (employee) and special consultant to the company and Board of Directors through September.
Kevin Johnson has served as president and chief executive officer of Starbucks since April 2017 and has been a Starbucks director since March 2009.
Johnson served as president and chief operating officer of Starbucks from March 2015 to April 2017.
Johnson served as Chief Executive Officer of Juniper Networks, Inc., a leading provider of high-performance networking products and services, from September 2008 to December 2013.
He also served on the Board of Directors of Juniper Networks from September 2008 to February 2014.
Prior to joining Juniper Networks, Inc., Johnson served as President, Platforms and Services Division for Microsoft Corporation, a worldwide provider of software, services, and solutions.
Johnson was a member of Microsoft’s Senior Leadership Team and held several senior executive positions over the course of his 16 years at Microsoft.
Prior to joining Microsoft in 1992, Johnson worked in International Business Machine Corporation’s systems integration and consulting business.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Kevin Johnson’s move on a scale of 0 to 10.
exechange reached out to Starbucks and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 12.2022 ($).