Howard Schultz steps down as Starbucks executive chairman

New York [United States], June 5 (ANI): Howard Schultz has stepped down from his role as executive chairman of Starbucks, effective June 26.

Schultz is recognised as the architect of the modern Starbucks. He has transformed a single coffee shop that opened in Seattle's Pike Place Market in 1971, into a global juggernaut of cafes.

He joined Starbucks in 1982 as director of operations and marketing. Over time he grew it into the iconic brand, with more than 28,000 stores in 77 countries, according to CNBC.

Schultz stepped down, handing the keys over to current CEO Kevin Johnson.

Schultz is known for being an outspoken leader on issues like immigration, LGBTQ and gun control, sparking speculation about his potential political plans. He has been a supporter of former President Barack Obama and Hillary Clinton during her bid for president. (ANI)

This story has not been edited. It has been published as provided by ANI