The former CEO of Starbucks, Howard Schultz, is leaving the company’s board and transitioning to a chairman emeritus role.
Schultz, who stepped down as CEO in March, now holds the title of chairman emeritus.CEO Howard Schultz will step down from the coffee chain's board, the company said Wednesday.
"I look forward to supporting this next generation of leaders to steward Starbucks into the future as a customer, supporter and advocate in my role as chairman emeritus," Schultz said in a statement. The company said the change was part of a planned transition, but Schultz didn't provide a reason for his exit.Sign up for NBC LA newsletters.
His third stint as Starbucks' chief executive ended in March, as Laxman Narasimhan stepped into the role. Schultz spent 11 months back in the top job. During that time, he crafted a strategy to modernize the company's cafes, improve relations with its baristas and fuel further sales growth. He also spearheaded the launch of Starbucksthat he has no intention of taking the reins as CEO again.
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