Brewing a new career?
Starbucks executive chairman is stepping down, and may be considering a run for public office.
Starbucks Corp.’s Howard Schultz is stepping down as executive chairman of the coffee company he helped transform into a global brand, and says public service may be in his future.
Schultz, 64, says he is considering a range of options. He had endorsed Democratic presidential nominee Hillary Clinton before the last presidential election and had sometimes deflected questions about whether he would run for office.
Speculation has swirled for years that Schultz might run for president. While not addressing the question directly, he told The New York Times on Monday that he was considering public service and that “for some time now, I have been deeply concerned about our country — the growing division at home and our standing in the world.”
Schultz’s move comes after he ceded the dayto-day duties of CEO at Starbucks last year to focus on innovation and social impact projects as executive chairman. As of June 26, Starbucks says Schultz will take the title of chairman emeritus. The Seattle-based chain says he is writing a book about Starbucks’ social impact moves and its efforts to redefine the role of a public company.
“Starbucks changed the way millions of people drink coffee, this is true, but we also changed people’s lives in communities around the world for the better,” Schultz said in a letter to Starbucks employees.
Schultz also is the former owner of the NBA’s Seattle SuperSonics. In 2006, he sold the team to a group of Oklahoma City businessmen who relocated the team to Oklahoma City in 2008 and renamed it the Thunder.
Schultz was known for aligning himself and Starbucks with social issues like race and jobs for underprivileged youth — even when those efforts fell flat, like the “Race Together” campaign that encouraged workers to talk about race with customers.