“A year ago, I signaled to the Board that as the global pandemic neared an end, I would be considering retirement from Starbucks. I feel this is a natural bookend to my 13 years with the company,” Johnson said in a written statement. “As I make this transition, we are very fortunate to have a founder who is able to step in on an interim basis, giving the Board time to further explore potential candidates and make the right long-term succession decision for the company.”
“I have enjoyed every minute of the job and am proud of what we have achieved together. It has been an honor to serve the 400,000 Starbucks green apron partners around the world and I want to thank them for their service, resilience and optimism.”
Starbucks employees at first unionized store say it’s gone from ‘a local issue to national’
Schultz is volunteering his time as interim CEO and will receive $1 of compensation.
Johnson and Schultz will provide an update to shareholders Wednesday at the annual meeting of shareholders via a webcast at 10 a.m.
