Starbucks chairman to step down at end of June

Starbucks CEO Howard Schultz speaks at the coffee companys annual shareholders meeting in Seattle

Starbucks chairman to step down at end of June

Starbucks announced Monday that Schultz, a former CEO and the most prominent face of the company, will step down later this month as executive chairman.

In another twist, Schultz, 64, said he is considering the possibility of a 2020 presidential election run. In a memo to staff, he did little to squash those rumours.

"I intend to think about a range of options, and that could include public service", he said.

Howard Schultz is leaving his job at Starbucks - and says he may consider running for president. Starbucks then proceeded to grow into the retail giant it is today with more than 28,000 stores in 77 countries.

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Schultz at the opening of a Starbucks location in Tokyo on 2 August 1996.

Schultz has helped Starbucks navigate one of its most tumultuous periods this spring as the company was in the headlines for the arrests of two black men at a Philadelphia store, an incident Schultz described as deeply embarrassing.

The announcement comes just days after the closure of 8,000 stores for anti-racism training.

A prominent critic of President Donald Trump, Schultz has always been rumored to have political aspirations. Schultz supported Hillary Clinton and Barack Obama. Since 1988, Starbucks has offered health care to all full-time and part-time employees.

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Previous year he addressed employees following the fatal race riot in Charlottesville, Virginia. Schultz said earlier this year that the Trump administration "is creating episodic chaos" in the country. "We are at a critical juncture in American history. We are at and facing a crucible in which our daily life is being challenged and being questioned about what is right and what is wrong".

Starbucks' board named Myron Ullman, who was previously chairman and CEO of struggling retailer J.C. Penney, as its new chair and Mellody Hobson vice chair effective upon Schultz's retirement. Schultz will keep the honorary title of chairman emeritus.

I write to you today enjoying a French Press of my favorite coffee, aged Sumatra, and feeling so many emotions.

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