Starbucks says ex-CEO Howard Schultz, who oversaw coffee chain's huge expansion, is stepping down as executive chairman

SEATTLE (AP) — Starbucks says ex-CEO Howard Schultz, who oversaw coffee chain's huge expansion, is stepping down as executive chairman. SEATTLE — Starbucks Corporation today announced that Howard Schultz is stepping down as executive chairman and member of the Board of Directors and will be honored with the title of chairman emeritus effective June 26, 2018. The Seattle-based coffee chain also announced that they would be appointing Myron E. Ullman, the former chairman of JCPenney, as its new chair of the board, and Mellody Hobson as vice chair of the board effective upon Schultz's retirement.
Starbucks executive chairman and former CEO Howard Schultz retires from the company.