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Howard Schultz returns to lead Starbucks on interim basis

BizTech WeeklyBy BizTech Weekly Mar 16, 2022

Starbucks CEO Howard Schultz is returning to lead the company on an interim basis. While Schultz leads the company, he will get $1 in compensation. Starbucks CEO Kevin Johnson says he will retire next month after five years as president and CEO. Some observers express surprise that the board would name Schultz instead of a new permanent CEO. Workers at Starbucks stores have voted to unionize since late last year; 140 stores in 27 states have petitioned the National Labor Relations Board to hold union elections. Schultz bought Starbucks in 1987, it had unionized workers at six stores and a roasting plant, one of his first acts as CEO was to lead an effort to decertify the union; he has fought multiple unionization efforts since then. The Seattle company’s shares jumped 6% at the opening bell Wednesday . . .

Read more at www.wavy.com
BizTech Weekly
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