Starbucks said on Wednesday that CEO Kevin Johnson will step down after five years at the helm of the coffee chain, a period in which the company faced challenges such as a backlash incident of racial prejudice ia impulse of workers to unionize.
Former CEO Howard Schultz will serve as interim CEO from April 4 until a permanent replacement is found, the company said in a statement. The company said Schultz is offering his time and will receive a $ 1 salary.
Starbucks said it plans to select a new CEO for the fall. Starbucks, meanwhile, is facing a growing push from employees to unionize its stores, though so far only a handful have been organized from its thousands of locations in the United States. Johnson said he began talking to the company’s board of directors a year ago to step down.
“A year ago, I pointed out to the Board that as the global pandemic draws to a close, I would be considering retiring from Starbucks. I think that’s a natural bookmark in my 13 years with the company,” he said. said Johnson in the statement.
Johnson joined Starbucks ’board of directors in 2009 and became its chairman and chief operating officer in 2015. Two years later, he succeeded Schultz as CEO.
Starbucks and other companies are raising prices, blaming inflation. Consumer advocates think otherwise.
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Schulz grew Starbucks from 11 stores in 1987 to more than 28,000 stores in 77 countries when he resigned as chief executive in 2018, according to the company.
“While I had no plans to return to Starbucks, I know the company needs to be transformed once again to find a new and exciting future where all of our stakeholders thrive on each other,” Schulz said in the statement.
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