Howard Schultz Leaves Starbucks After 41 Years

Howard Schultz, the honorary chairman who grew Starbucks into a global company, is completely stepping down from the front lines of management.

According to Bloomberg and other sources on the 13th (local time), Starbucks announced that Schultz is relinquishing his advisory position on the Starbucks board of directors. With this, Schultz will completely withdraw from Starbucks management after 41 years.

Starbucks described this as "part of a planned change" and did not disclose specific reasons for his resignation. However, they added that he will focus on "time with his wife and various charitable investments." Bloomberg and other foreign media reported that Schultz will become "Chairman Emeritus for life" after retirement. The honorary chairman position does not involve management participation such as exercising voting rights.

In a statement, Schultz said, "Looking back on the 41 years I have been involved, a creative and passionate customer experience has been built by more than 5 million employees who have passed through this company," adding, "As chairman emeritus, a customer, and a supporter, I will support the next generation of leaders who will lead Starbucks' future."

[Image source=AFP Yonhap News]

Schultz, 70 years old this year, has retired and returned as CEO twice. He joined Starbucks in 1982 as the head of marketing, took over management in 1987, and led growth until 2000. He stepped down as CEO in 2000 but returned eight years later, and whenever there was a leadership gap or crisis at Starbucks, he stepped in as interim CEO to lead growth. During his tenure, Starbucks stores grew to over 36,000 locations in 86 countries worldwide.

Starbucks has newly recruited Wei Zhang, a former senior advisor at Alibaba Group, to its board of directors. Wei Zhang will join the board starting October 1. Bloomberg reported that the recruitment of Wei Zhang, who led international business and media strategy at Alibaba Group, appears to be a strategic move for growth in China, one of Starbucks' largest single markets.

This content was produced with the assistance of AI translation services.