- Signs for push-out forces
- After around nine years on the job
- Kevin Johnson takes over
- Schultz will remain as executive chairman at Starbucks
(management-change.com) — Seattle, Washington, December 01, 2016 — Howard Schultz, chief executive of Starbucks, leaves. His departure is made public at an early stage. As announced by Starbucks Corporation in a news release and in a regulatory filing published on Thursday, December 01, 2016, Howard Schultz leaves the post as chief executive officer at the coffee company after around nine years on the job, effective April 03, 2017.
Schultz’ duties are taken over by Kevin R. Johnson, currently chief operating officer at Starbucks Corporation.
“To continue profitably growing”
The management change is explained as follows. Schultz said: “This move ideally positions Starbucks to continue profitably growing our core business around the world into the future.”
Schultz will remain as executive chairman at Starbucks
Effective April 3, 2017, Schultz, Chairman and CEO, will be appointed executive chairman and will shift his focus to innovation, design and development of Starbucks Reserve Roasteries around the world, expansion of the Starbucks Reserve retail store format and the company’s social impact initiatives. In this new role Schultz will continue to serve as chairman of the Board.
Share price decline
The change follows a decline in the share price of Starbucks Corporation since September 2015.
On the job as CEO since 2008
Howard Schultz is the founder of Starbucks Corporation and serves as the chairman and chief executive officer.
Schultz has served as chairman of the board of directors since Starbucks inception in 1985, and in January 2008, he reassumed the role of president and chief executive officer.
He served as president until March 2015.
From June 2000 to February 2005, Schultz also held the title of chief global strategist.
From November 1985 to June 2000, he served as chairman of the board and chief executive officer.
From November 1985 to June 1994, Schultz also served as president.
From January 1986 to July 1987, Schultz was the chairman of the board, chief executive officer and president of Il Giornale Coffee Company, a predecessor to the Company.
From September 1982 to December 1985, Schultz was the director of retail operations and marketing for Starbucks Coffee Company, a predecessor to the Company.
Signs for push-out forces
It is not completely certain what forces eventually triggered Howard Schultz’ move.
The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.
Read the full story in the management-change.com report 45.2016 ($).