- Howard Schultz steps down as Starbucks CEO for the second time.
- Schultz has thrown his support behind his successor, Kevin Johnson.
- His leadership style continues to inspire many young entrepreneurs
- Is Howard Schultz’s retirement the first step to run for political office?
Howard Schultz has made Starbucks, the biggest coffee brand in America, the company that it is today. After being the CEO of Starbucks for 19 years, Schultz has decided to step down.
Schultz made this announcement on Thursday. He will be giving up his role as CEO and assume the position of Executive Chairman in 2017.
Howard Schultz No Longer Starbucks CEO
For the time being, he will be developing and expanding Starbucks Reserve Roasteries, a new strategic initiative for the Starbucks. The company’s president and COO, Kevin Johnson will be succeeding the iconic leader.
“As I focus on Starbucks’ next wave of retail innovation, I am delighted that Kevin Johnson — our current president, COO, a seven-year board member and my partner in running every facet of Starbucks business over the last two years — has agreed to assume the duties of Starbucks chief executive officer,” said Schultz, reports Forbes.
Interestingly, this is not the first time that Schultz has taken the decision to step down. After buying the company in 1987, he declared that he would be discontinuing his role as the CEO in 2000. However, after a span of eight years, he re-assumed his position as the CEO of the company.
Even though Schultz has single-handedly built the company into an $85 billion empire, he was never satisfied.
This sparked off speculations that he might be considering running for public office. His board members and Schultz himself has waved aside the rumors.
Howard Schultz’s Vision and Leadership Style
Schultz has reiterated that he might not be the face of the company anymore. But he will be present at his company’s office every single day. And that he is not technically “leaving” the company.
The net worth of Howard Schultz stands at $3.1 billion. However, it dropped 100 million dollars after his announcement.
Regardless, Howard Schultz emerged as one of the most inspirational business leaders. Many aspiring entrepreneurs still continue to follow his business modules:
- He is the kind of CEO who always believed in taking care of his employees, at the same time driving them to succeed. He gave his employees the opportunity to obtain college degrees from Arizona State University by footing in the tuition fees.
- His never limits his vision. This is solely the reason Starbucks began selling hot food and tea in addition to coffee.
- He embraced technology and changing needs of people. Today, Starbucks is one of the pioneers of mobile ordering.
- Army veterans and active-duty spouses were given a chance to have a day job. For this Schultz set up Starbucks counters in military bases.
The above are just some of the many such visionary ideals influenced by the extraordinary leadership of Howard Schultz.