Starbucks: iconic chairman Howard Schultz stepping down
(CercleFinance.com) - Howard Schultz, the businessman behind the spectacular development of the coffee chain Starbucks, is stepping down as the group's executive chairman and board member after almost 40 years with the company.
After visiting the first Starbucks store, which is found in Seattle's iconic Pike Place Market, in 1982 Schultz decided to move with his wife from New York to take on the role of director of operations and marketing.
Schultz saw Starbucks grow from just 11 stores to over 28,000 stores in 77 countries today, with a total workforce of over 2 million.
Under Schultz's leadership, Starbucks share price has risen by a spectacular 21,000% since its IPO in 1992.
Schultz owns about 2.2% of the group's capital.
Last year, he changed his role from group CEO to executive chairman.
Myron Ullman, the former board chairman and chief executive officer of J.C. Penney, has been appointed as the next chairman of Starbucks' board of directors.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
After visiting the first Starbucks store, which is found in Seattle's iconic Pike Place Market, in 1982 Schultz decided to move with his wife from New York to take on the role of director of operations and marketing.
Schultz saw Starbucks grow from just 11 stores to over 28,000 stores in 77 countries today, with a total workforce of over 2 million.
Under Schultz's leadership, Starbucks share price has risen by a spectacular 21,000% since its IPO in 1992.
Schultz owns about 2.2% of the group's capital.
Last year, he changed his role from group CEO to executive chairman.
Myron Ullman, the former board chairman and chief executive officer of J.C. Penney, has been appointed as the next chairman of Starbucks' board of directors.
Copyright (c) 2018 CercleFinance.com. All rights reserved.