Press release
Starbucks Board of Directors Affirms CEO Transition Details
Board reiterates plans of driving toward naming new leader in Fall Howard Schultz remaining as interim ceo through calendar Q1 2023 to ensure smooth
About this update from Starbucks Corporation
[{"type":"text","content":"\nBoard reiterates plans of driving toward naming new leader in Fall\n\nHoward Schultz remaining as interim ceo through calendar Q1 2023 to ensure smooth transition\n\n SEATTLE--(BUSINESS WIRE)--\nStarbucks Corporation (NASDAQ: SBUX) Board of Directors today provided an update to affirm the search details for the Company’s next chief executive officer. As stated during the Company’s quarterly earnings call last month, the Board’s search continues to be on track to identify a successor ceo in the coming months, and the Board has agreed with Schultz that he will remain as interim ceo through the first fiscal quarter of 2023. This timeline provides the company the ideal runway for a seamless transition and continuity of leadership through the 2022 holiday season, as the business transformation continues.\n\nSince returning as interim ceo on April 4, Schultz has engaged deeply with partners (employees) of all levels of the company, working directly with the leadership team to shape a strategic plan for the future of a reimagined Starbucks Coffee Company. The reinvention plan is being designed through co-creation across the organization with a focus on exceeding the expectations of both partners and customers.\n\nAs the next chief executive is named to the position, he or she will undergo full immersion into the Company, collaborating with Schultz directly. Driving toward an announcement this Fall, the official handoff will take place in the first calendar quarter of 2023. Thereafter, Schultz will remain on the Starbucks Board.\n\nAbout Starbucks\n\nSince 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 34,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at stories.starbucks.com or www.starbucks.com.\n\nForward-Looking Statements\n\nCertain statements contained herein are “forward-looking” statements within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “aim,” “anticipate,” “beli...