Howard Schultz, Starbucks’ former CEO to step down from the board

Howard Schultz, former chief executive officer of Starbuck who served on the company board, has decided to retire. Post his retirement, Schultz will become lifelong chairman emeritus, and will hold a role that will bring no official position on the board, hold no voting power, attendance or any other rights.

As per a report, his exit comes after a period of five months of a new CEO taking up the mantle. This movement also comes amid a rise in union organising in the company’s cafes in the US.

During his 41 year stint at the coffee giant, Schultz transformed Starbucks into a global coffeehouse chain with 36,000 cafes bustling in 86 markets from selling only whole beans.

Schultz is the co-founder of Schultz Family Foundation and emes project llc. His innings at Starbucks began in 1987 as chairman and CEO.