CEO Of International Company Stepping Down!
(Left: Kevin Johnson, Right: Howard Schultz)
Starbucks' CEO, Howard Schultz, announced his plan to step down in December to pursue other ‘innovation and social impact activities’. On April 2nd, he will no longer hold the CEO title.
Kevin Johnson, Starbucks' COO, will be taking over as of April 3rd.
Many believe his choice to step down is partly because of the outlash from consumers due to of his outspoken democratic support, including being a public Clinton supporter during the election.
More recently, his plan to hire 10,000 refugees as a response to Trump’s immigration agenda has resulted in negative effects towards the company.
After Schultz’s letter stated their new hiring plan, the company faced massive boycotts from Trump supporters and the brand’s perception level dropped drastically by 14%.
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