- The Washington Times - Monday, June 4, 2018

Seattle-based Starbucks Corporation announced Monday that Howard Schultz is leaving the company in three weeks after serving 40 years as as CEO and chairman. Mr. Schultz, the company said, grew the famous coffee shop chain from 11 stores to more than 28,000 stores in 77 countries during his time in leadership.

“Under Schultz’s leadership, Starbucks has delivered a 21,000 percent gain in the value of its stock price since its initial public offering in 1992,” the company noted in a statement.

But it is Mr. Schultz’s farewell letter which has attracted press attention.

“I set out to build a company that my father, a blue-collar worker and World War II veteran, never had a chance to work for,” he wrote in a missive addressed today to past and present Starbucks partners.

“I’ll be thinking about a range of options for myself, from philanthropy to public service, but I’m a long way from knowing what the future holds,” Mr. Schultz said.

Along with landing in the top-10 most popular trends on Twitter, the letter sparked speculation.

“Schultz’s latest leadership transition sparked speculation about his potential political plans. He has been a supporter of former President Barack Obama and Hillary Clinton during her bid for president. Some have already questioned whether he would pursue his own presidential run,” said CNBC in the immediate aftermath of the announcement.

“Howard Schultz established himself as a player in politics before he decided to leave Starbucks,” the business network said.

“Howard Schultz is stepping away from Starbucks. The move is likely to stoke speculation about his entry into politics,” said the New York Times, which was among a dozen news organization which immediately broached the possibility.

Mr. Schultz told the news organization he was “deeply concerned” about the nation and was now exploring ways he could “give back” to society.

He leaves his post on June 26.

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2021 The Washington Times, LLC. Click here for reprint permission.

Please read our comment policy before commenting.


Click to Read More and View Comments

Click to Hide