Starbucks CEO to retire; founder Schultz to be interim chief
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
Your support helps us to tell the story
As your White House correspondent, I ask the tough questions and seek the answers that matter.
Your support enables me to be in the room, pressing for transparency and accountability. Without your contributions, we wouldn't have the resources to challenge those in power.
Your donation makes it possible for us to keep doing this important work, keeping you informed every step of the way to the November election
![Head shot of Andrew Feinberg](https://static.independent.co.uk/static-assets/support-us/andrew-feinberg.png)
Andrew Feinberg
White House Correspondent
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.
Johnson, 61, said he told the company’s board last year that he was considering retirement after five years as CEO and 13 years at Starbucks. Starbucks expects to name a permanent CEO by this fall.
In the meantime, Schultz will serve as interim CEO; the company said he is taking $1 in compensation. Schultz, 68, is also rejoining Starbucks’ board. Johnson succeeded Schultz as CEO in 2017.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.