Starbucks has been doing well for itself as usual, though it’s biggest internal debate right now is the efforts of employees of individual Starbucks locations to unionize. That aside, the company is in a good place, which is why its CEO, Kevin Johnson, has decided that it’s a safe time to hand off the reins.
Johnson announced today in a public statement that he will be retiring from his position after five years in command, with Howard Schultz to serve as interim CEO until a permanent replacement can be selected.
“A year ago, I signaled to the Board that as the global pandemic neared an end, I would be considering retirement from Starbucks. I feel this is a natural bookend to my 13 years with the company,” Johnson said.
BREAKING: Starbucks CEO Kevin Johnson is retiring, and Howard Schultz is returning as interim chief https://t.co/3R8e0JyCLX
— CNBC Now (@CNBCnow) March 16, 2022
“When you love something, you have a deep sense of responsibility to help when called. Although I did not plan to return to Starbucks, I know the company must transform once again to meet a new and exciting future where all of our stakeholders mutually flourish,” Schultz said in a separate statement. “With the backdrop of COVID recovery and global unrest, its critical we set the table for a courageous reimagining and reinvention of the future Starbucks experience for our partners and customers.”