Howard Schultz, who returned to Starbucks Corp. as interim chief executive officer on April 4, will remain in that role through the first quarter of fiscal 2023 as the company continues its search for its next permanent CEO, Starbucks said on June 6. The company said it is on track to name a new CEO in the coming months.
Starbucks said the timeline provides the company “the ideal runway for a seamless transition and continuity of leadership through the 2022 holiday season, as the business transformation continues.”
“Since returning as interim CEO on April 4, Schultz has engaged deeply with partners (employees) of all levels of the company, working directly with the leadership team to shape a strategic plan for the future of a reimagined Starbucks Coffee Co.,” the company said. “The reinvention plan is being designed through co-creation across the organization with a focus on exceeding the expectations of both partners and customers.”Kevin Johnsonstepped downas president and CEO of Starbucks on April 4. At that time, Mr. Schultz agreed to return to the company. Mr. Schultz previously was CEO from 1986 to 2000, and again from 2008 to 2017.