WorldStarbucks CEO quits after 13 years. Howard Schultz returns...

Starbucks CEO quits after 13 years. Howard Schultz returns as interim CEO : NPR


Starbucks President and Chief Executive Officer Kevin Johnson speaks at the Annual Meeting of Shareholders in Seattle, Washington on March 20, 2019. The company announced his departure just hours before the 2022 shareholders meeting.

Jason Redmond/AFP via Getty Images


hide caption

toggle caption

Jason Redmond/AFP via Getty Images


Starbucks President and Chief Executive Officer Kevin Johnson speaks at the Annual Meeting of Shareholders in Seattle, Washington on March 20, 2019. The company announced his departure just hours before the 2022 shareholders meeting.

Jason Redmond/AFP via Getty Images

Amid the great resignation, a big one.

Starbucks has announced that its president and CEO Kevin Johnson is retiring after 13 years with the company, five of them as CEO. He leaves April 4.

The announcement came just hours before the company’s annual shareholder meeting. Howard Schultz, who led Starbucks for three decades and built the company from 11 stores and 100 employees to 28,000 stores worldwide, will return as interim CEO. He is taking on the position as a volunteer, the company said, with compensation of $1.

The Starbucks board thanked Johnson for his leadership, citing the challenges brought on by the pandemic, which it called “one of the most difficult periods in modern history.”

After an initial plunge in the very early days of the pandemic, Starbucks shares quickly recovered and soared to a record high last summer. Even as restaurants struggled, coffee sales remained strong, in part thanks to Starbucks’ drive-throughs. By spring of 2021, the company said U.S. sales had made a “full recovery.”

But Starbucks has not been able to slow a grassroots unionization drive that took off in Buffalo, New York, last year. In December, two out of three stores voted to join Workers United, affiliated with the Service Employees International Union, becoming the first Starbucks stores in the U.S. to form unions. Since then, four more stores — one in Mesa, Arizona, and three others in the Buffalo area — have joined them, and more than 130 other locations have petitioned for union votes.

On Tuesday, the National Labor Relations Board issued a formal complaint against Starbucks, alleging the company took retaliatory actions against two Arizona employees who were part of the union campaign.

In a statement, Johnson, 61, indicated his departure was planned, noting he had signaled to the Starbucks board a year ago that he would consider retiring as the pandemic came to an end.

“I feel this is a natural bookend to my 13 years with the company,” he said.

Howard Schultz sips coffee in Chongqing, China, in 2006. Schultz, who grew Starbucks into the global brand it is today, returns to the company as interim CEO after Kevin Johnson’s departure.

China Photos/Getty Images


hide caption

toggle caption

China Photos/Getty Images


Howard Schultz sips coffee in Chongqing, China, in 2006. Schultz, who grew Starbucks into the global brand it is today, returns to the company as interim CEO after Kevin Johnson’s departure.

China Photos/Getty Images

Schultz, who led Starbucks from 1987 until 2018, said in a statement he had not planned to return to Starbucks but knows the company is at a point where it must transform once again.

“Our success is not an entitlement,” he said. “We must continue to earn the trust of our people and our customers every day.”



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Trump Could Be Destroyed As New York Could Look To Recover $1 Billion In Penalties And Fines

Former Trump lawyer Michael Cohen said that the state of New York could be looking...

Facts About Selenium | Live Science

Selenium is a trace mineral essential to our health and wellbeing. Among many other important roles in our...

National Architects’ Association Doubts Resilience Of Our Buildings

When Hurricane Andrew tore through South Florida in August 1992, it destroyed 25,524 homes, damaged 101,241 more, killed...

About Adam Levine's Wife! | Perez Hilton

Do U think Adam Levine‘s wife knew????  This and much more on our latest podcast! CLICK HERE to...

Must Read

HCD Conference Preview: Design, Operational Considerations For Pediatric Mental Health

The 2022 Healthcare Design Conference + Expo will...

Putin Calls Up 300,000 Reservists Amid Setbacks With Ukraine Invasion

KYIV, Ukraine (AP) — Russian President Vladimir Putin...
- Advertisement -

You might also likeRELATED
Recommended to you