📺 Stream EntrepreneurTV for Free 📺

Starbucks CEO Howard Schultz to Step Down Shares of the company were down 4 percent in after hours trading on Thursday.

By Reuters •

entrepreneur daily

This story originally appeared on Reuters

Stephen Brashear | Stringer | Getty Images

Starbucks Corp. said Howard Schultz will be stepping down as chairman and chief executive officer of the coffee chain, but will continue as executive chairman.

Chief Operating Officer Kevin Johnson will replace Schultz as chief executive effective April 3, 2017.

Shares of the company were down 4 percent in after hours trading on Thursday.

(Reporting by Gayathree Ganesan in Bengaluru; Editing by Shounak Dasgupta)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Most Popular

See all
Business News

'Everyone Is in Complete Shock': A 500-Person Tesla Team Found Out 'in the Middle of the Night' Their Charger Division Was Laid Off

Other car companies that use the technology, such as General Motors and Ford, also weren't expecting the news, according to reports.

By Sherin Shibu
Business News

There Are Only 6 Major Cities Left in the U.S. With 'Affordable' Homes Matching Median Incomes — Here's the List

Homeownership is not affordable for the typical household in 44 of the 50 largest cities in the U.S.

By Sherin Shibu
Side Hustle

He Started a Salty Backyard Side Hustle That Out-Earned His Full-Time Job and Now Makes Over $1 Million a Year: 'Take the Leap'

In 2011, Kyle Needham turned his passion for oysters into a business that saw consistent monthly revenue "right away."

By Amanda Breen
Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

By The Staff of Entrepreneur Media, Inc.
Living

An Aggressive 1980s Marketing Campaign Made Many Americans Believe Cinco De Mayo Is Something It's Not. Are You One of Them?

Sixty percent of U.S. adults are incorrect about or unsure of the holiday's history.

By Amanda Breen
Business News

James Clear's Atoms App Promises to Help Break Bad Habits and Create Better Ones — Here's How It Works

The app turns Clear's best-selling book, "Atomic Habits," into something actionable.

By Sherin Shibu