Longtime Starbucks leader Howard Schultz is stepping down from the company’s board of directors, the coffee chain announced.
FILE - Starbucks founder and former CEO Howard Schultz testifies before the Senate Health, Education, Labor and Pensions Committee in Washington on March 29, 2023. Schultz is stepping down from the company's board of directors, the coffee chain announced. Schultz is credited for transforming the Seattle-based business into the coffee giant it's known as today. His departure from the board is “part of a planned transition,” the company said Wednesday Sept. 13 2023.
After purchasing Starbucks in 1987, Schultz headed the company as CEO until 2000 and again between 2008 and 2017. He later came out of retirement to return as interim CEO while the company searched for a new chief executive last year — but bid farewell to that title after Also on Wednesday, Starbucks announced that Wei Zhang, who most recently served as senior advisor to e-commerce company Alibaba Group, has been elected to the board effective Oct. 1.
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