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.
Longtime Starbucks CEO Howard Schultz is returning to lead the company on an interim basis after the coffee giant's chief executive announced his retirement.Kevin Johnson said he will retire next month after five years as CEO and 13 at Starbucks. Johnson, a former executive at Microsoft and Juniper Networks, succeeded Schultz as CEO in 2017.
Starbucks expects to name a permanent CEO by this fall. While Schultz leads the company, he will get $1 in compensation. Schultz, 68, is also rejoining Starbucks' board.
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