Starbucks CEO Howard Schultz is set to step down in the coming weeks. The company has faced many boycotts since Schultz’s vow to hire 10,000 refugees. Kevin Johnson, the current COO, will step in as CEO on April 3rd.
Per Daily Mail:
The move was announced in December 2016, and Schultz will remain at the company as executive chairman. Kevin Johnson, Starbucks’ chief operating officer, will take on the role as CEO on April 3, 2017.
Earlier this year, Schultz made a vow to hire thousands refugees in response to President Donald Trump‘s first travel ban. Trump supporters have called for a boycott of the chain since January 29, when Schultz vowed to hire 10,000 refugees over five years.
Afterwards, consumer perception levels took a hit as measured by YouGov BrandIndex’s Buzz score, falling by two-thirds between January 29 and February 13.
In the announcement that he was stepping down, Schultz said he ‘will shift his focus to innovation, design and development of Starbucks Reserve® Roasteries around the world, expansion of the Starbucks Reserve® retail store format and the company’s social impact initiatives’ and ‘focus on Starbucks next wave of retail innovation.’
Schultz has always been vocal about the need for greater sensitivity in balancing profit margins while advancing socio-economic conscientiousness.
He was also a public Clinton supporter and prominent Democrat, and even considered as a running mate for the Democratic nominee at one point.
The Conservative-hating, Clinton-loving Howard Schultz has been removed from his position as CEO. Looks like Starbucks had to see their numbers tumble before they wise up.
Take a look at some hard numbers.
When everything about the company is trending downward, it’s time to fire some people. Don’t be surprised if more firings are on the way from Starbucks.