Get All Access for $5/mo

Starbucks CEO Howard Schultz to Step Down Shares of the company were down 4 percent in after hours trading on Thursday.

By Reuters

This story originally appeared on Reuters

Stephen Brashear | Stringer | Getty Images

Starbucks Corp. said Howard Schultz will be stepping down as chairman and chief executive officer of the coffee chain, but will continue as executive chairman.

Chief Operating Officer Kevin Johnson will replace Schultz as chief executive effective April 3, 2017.

Shares of the company were down 4 percent in after hours trading on Thursday.

(Reporting by Gayathree Ganesan in Bengaluru; Editing by Shounak Dasgupta)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Most Popular

See all
Starting a Business

From Side Gig to 6-Figure Success — How I Built a Thriving Home-Based Business as a Busy Family Man

I've made over $17,000,000 for clients worldwide and brought in multiple six figures for myself, all while barely leaving my kitchen.

By Svetoslav Dimitrov
Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

By Eve Gumpel
Franchise

Expanding Your Franchise Overseas Can Make You Millions — Or Tank Your Profits If You Don't Consider These Risks.

Deciding to expand your franchise concept internationally is a challenging one. Doing so can provide growth opportunities far beyond those in your current home market. But doing so before you're ready can create undue stress on your system. International expansion requires a full investment of time and resources to do it right; it is a serious commitment that reburies hard work, supported by a well-thought-out and well-executed game plan.

By Emiliano Jöcker
Business News

If Your Bank Is Calling, Don't Answer. It's Probably a Scam.

Scammers are getting sophisticated, from AI voices and videos to spoofing caller IDs. Here's how to spot them.

By Erin Davis
By Sherin Shibu
Growing a Business

How to Choose The Right Insurance Broker to Grow Your Lower to Mid-Market Company in 2025 and Beyond

Private, client-focused insurance firms matter more than ever in 2025 — here's why.

By Trent Bryson