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Starbucks CEO Howard Schultz to step down in 2017

USATODAY.com Howard SchultzHoward Schultz
Thursday, 1 December 2016 ()

Starbucks CEO Howard Schultz is stepping down, according to a company announcement on Thursday. Starbucks President and Chief Operating Officer Kevin Johnson will take Schultz's place. Schultz will be shifting his role at Starbucks to help the company develop and open high-end coffee shops, according to the Wall Street Journal. TheStreet's Scott Gamm reports from Wall Street. Video provided by TheStreet
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News video: Howard Schultz to Step Down as Starbucks CEO

Howard Schultz to Step Down as Starbucks CEO 01:32

Howard Schultz, who led Starbucks as it grew from local chain to global brand, said Dec. 1 he will step down as CEO in April. His next effort? Building the company's new venture: very-high-end coffee shops. Photo: Reuters

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