Tags: howard | schultz | steps | down | starbucks

Starbucks' Schultz Will Step Down as CEO, Replaced by Johnson

Image: Starbucks' Schultz Will Step Down as CEO, Replaced by Johnson

Thursday, 01 Dec 2016 04:33 PM

Starbucks Corp.’s Howard Schultz, who built the coffee empire and served two separate stints as chief executive officer, will step down next year, handing the reins to Chief Operating Officer Kevin Johnson.

Johnson, a former technology executive who joined Starbucks’ board seven years ago, will take the CEO job on April 3, the Seattle-based company said in a statement on Thursday.

Starbucks shares fell 4.9 percent to $55.64 at 4:03 p.m. in late trading in New York after the change was announced. The shares already were down 2.5 percent this year through Thursday’s close.

 

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Starbucks Corp.'s Howard Schultz, who built the coffee empire and served two separate stints as chief executive officer, will step down next year, handing the reins to Chief Operating Officer Kevin Johnson.Johnson, a former technology executive who joined Starbucks' board...
howard, schultz, steps, down, starbucks
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2016-33-01
Thursday, 01 Dec 2016 04:33 PM
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