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Starbucks CEO to retire; founder Schultz to be interim chief

Starbucks President and CEO Kevin Johnson said Wednesday he will retire next month, and former CEO and company founder Howard Schultz will replace him on an interim basis.
Dee-ann Durbin, The Associated Press
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Michelle Eisen, a barista at the Buffalo, NY, Elmwood Starbucks location, the first Starbuck location to unionize, helps out the local Starbucks Workers United, employees of a local Starbucks, as they gather at a local union hall to cast votes to unionize or not, Wednesday, Feb. 16, 2022, in Mesa, Ariz. The NLRB delayed the vote due to an appeal by Starbucks. (AP Photo/Ross D. Franklin)

Starbucks President and CEO Kevin Johnson said Wednesday he will retire next month, and former CEO and company founder Howard Schultz will replace him on an interim basis.

Johnson, 61, said he told the company’s board last year that he was considering retirement after five years as CEO and 13 years at Starbucks. Starbucks expects to name a permanent CEO by this fall.

In the meantime, Schultz will serve as interim CEO; the company said he is taking $1 in compensation. Schultz, 68, is also rejoining Starbucks’ board. Johnson succeeded Schultz as CEO in 2017.

Dee-ann Durbin, The Associated Press