“I still feel like a kid from Brooklyn who grew up in public housing,” Schultz said about his departure. “I am living the American Dream. And I still have dreams for the company, and for you. It’s been my honor to be in service to our partners. I hope I’ve made you proud to work at Starbucks, and proud to wear the cloth of the company—the green apron.”<doc-sep>“It’s not about Starbucks, it’s about the country,” Schultz said. “What kind of country do we want to live in? For me the answer is very simple. The promise of America will not be achieved if it is only available to those that have the right color of skin or have the right Zip code. We must provide opportunity and aspiration to every single person who is American, and we must see that through the lens of humanity. And this exercise is the beginning of that for Starbucks.”<doc-sep>Read Howard Schultz' retirement letter to employees: Dear Starbucks partners—past and present, I write to you today enjoying a French Press of my favorite coffee, aged Sumatra, and feeling so many emotions. Pride. Nostalgia. A heavy heart. But mostly, I sit here feeling a tremendous sense of gratitude. For years I've had a dream to build a different kind of company, one that has the potential to enhance lives and endure long after I was gone. Thanks to you, my dream has come true. On June 26, 2018, I will officially leave Starbucks and become chairman emeritus. It seems like yesterday that I first walked into the Pike Place store, stepped across the threshold, and was swept into a world of coffee and community. That moment began the journey of a lifetime. Not just for me, but for so many of us. Who could have imagined how far we would travel together, from 11 stores in 1987 to more than 28,000 stores in 77 countries. But these numbers are not the true measures of our success. Starbucks changed the way millions of people drink coffee, this is true, but we also changed people's lives in communities around the world for the better. Also Business Howard Schultz to step down as Starbucks executive chairman When I think about what Starbucks stands for, I think about how our mission, values, and guiding principles have come to life: access to healthcare benefits for full- and part-time employees, more than 20 years before the Affordable Care Act. Bean Stock starting in 1991, which turned employees into partners who could share in the company's success. Our ethical sourcing (C.A.F.E.) practices that have helped support farmers and nurture the land. Our years of community service and the C.U.P. Fund for partners in need. Our volunteer efforts in New Orleans and our annual Global Month of Service. Free college tuition through the College Achievement Plan. Our commitments to hire veterans, Opportunity Youth, and refugees. Policies like parental leave and pay equity. And our partners' countless acts of kindness that occur in our stores, offices, roasting plants, and distribution centers every single day. Many of you also know that I set out to build a company that my father, a blue-collar worker and World War II veteran, never had a chance to work for. Together we've done that, and so much more, by balancing profitability and social conscience, compassion and rigor, and love and responsibility. Because of your creativity, your hard work, and the love that you have poured into the company, Starbucks today is widely embraced and respected. As I prepare to step away, I'd like to humbly remind you not to lose sight of what matters most: your fellow partners and our customers. During all my years at Starbucks, in every weekly leadership meeting and quarterly board meeting, I always imagined two empty chairs in the room. One was for a partner and one for a customer. When I had to make a decision, I asked myself if the choice would make both proud. Today, I ask that you continue this tradition, and let the answer guide you. I promise the two chairs will serve you and the company well. A few more thoughts I'd like to share... Please remember, Starbucks is at its best when our stores and offices are welcoming places for everyone. So stay true to our reason for being: inspiring and nurturing the human spirit through a sense of community and human connection. As you adhere to our core purpose, do not forget to innovate around it. Never embrace the status quo. Instead, have the curiosity to look around corners and the courage to push for reinvention. Change is inevitable, and the world has become a more fragile place since we first opened our doors. Amid the chaos, try to listen with empathy, respond with kindness, and do your best to perform through the lens of humanity. Do not be a bystander. Instead, choose to be responsible for what you see and hear. No person or company is ever perfect, so learn from mistakes and be forgiving of yourself and others. And when goals are achieved, remember: success is always best when shared. And yet... success is not an entitlement; it must be earned every day through hard work and teamwork. If you strive to be the best version of yourself and bring out the best in others, your dreams will come true again and again, and Starbucks mission, values, and guiding principles will endure. These values are as important as our coffee. Sourcing and roasting the highest quality arabica coffee will always be our heritage. Never stop reaffirming Starbucks leadership position in all things coffee. I can think of no better expression of this than our Reserve stores, and the magnificent Roasteries that we have built in Seattle and Shanghai, as well as the ones we will open in Tokyo, Chicago, New York City, and Milan. Bringing Roasteries to life with an incredible design team has been among the great joys of my career, and I'll proudly host the openings of the Milan and New York Roasteries in a few months. In those cities, the course of my life changed years ago. So it seems fitting that they are where my time with the company I love so deeply will come to a close. Kevin Johnson is a true servant leader, and he will lead Starbucks as this great company enters its next journey. It's our duty as leaders to constantly reimagine Starbucks. I am honored to call Kevin my friend and partner. And Starbucks is fortunate to have him. This leadership team is extraordinarily capable. They, too, believe that Starbucks has a responsibility to use our scale for good. I still feel like a kid from Brooklyn who grew up in public housing. I am living the American Dream. And I still have dreams for the company, and for you. It's been my honor to be in service to our partners. I hope I've made you proud to work at Starbucks, and proud to wear the cloth of the company—the green apron.<doc-sep>NEW A vastly improved search engine helps you find the latest on companies, business leaders, and news more easily.<doc-sep>
WASHINGTON — Howard Schultz is stepping down as executive chairman of Starbucks, increasing speculation that he will make a run for president in 2020. Since joining the company in the 1980s, Schultz saw Starbucks grow from 11 outlets to 28,000 stores, along the way changing the expectations of consumers when it comes to coffee consumption. He also has been noted for his socially conscious approach to the company, and he has long been floated as a prospect for a presidential run. He certainly did not dissuade that talk on Monday. When asked by The New York Times whether he would consider it, he said, “I intend to think about a range of options, and that could include public service. But I’m a long way from making any decisions about the future.” Schultz will take the title of chairman emeritus on June 26. Myron E. “Mike” Ullman will serve as the new chairman of the board and Mellody Hobson will serve as vice chair when Schultz retires. Schultz has at times been outspoken about politics and other social issues, diverging from many atop the corporate ladder who don’t want to risk offending political figures or their customer base. Just last week, he said on CNN that the Trump’s rhetoric has “given license to people to feel as if they can emulate and copy the kind of behavior and language that comes out of this administration.” He had been on CNN to talk about Starbucks’ move to close 8,000 company stores for special training following an incident in Philadelphia in which an employee called the police on two African American men who were waiting in a Starbucks store for a friend. The company has been embroiled in controversy over other issues, such as when Schultz requested in 2013 that patrons not bring firearms into stores. He also has spoken out against Trump’s refugee ban and expressed support for Dreamers, the undocumented immigrants who entered the United States when they were children. Schultz stepped down as CEO last year and was succeeded by Kevin Johnson. “I set out to build a company that my father, a blue-collar worker and World War II veteran, never had a chance to work for,” Schultz said in a letter to employees announcing his retirement. “Together we’ve done that, and so much more, by balancing profitability and social conscience, compassion and rigor, and love and responsibility.” Schultz is among a number of corporate executives who have weighed presidential bids, apparently fueled by the ability of Trump to win the White House without having held any prior political office. Robert Iger, the CEO of the Walt Disney Co., considered a bid until he signed a new contract, and Dallas Mavericks owner and producer Mark Cuban also has been weighing a candidacy.