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Former Starbucks CEO Howard Schultz Steps Down from Board

Former Starbucks CEO Howard Schultz, 70, has announced his decision to step down from the coffee chain’s board. The company referred to this change as part of a planned transition, however, Schultz did not provide specific reasons for his departure. In a statement, he expressed his excitement about supporting the next generation of leaders in steering Starbucks into the future in his role as chairman emeritus.

SchultzÔÇÖs third tenure as Starbucks’ chief executive concluded in March, with Laxman Narasimhan taking over the position. During his 11-month stint, Schultz focused on rejuvenating the company’s cafes, enhancing relationships with baristas, and driving sales growth. Additionally, he played a pivotal role in launching Starbucks Oleato, a range of olive oil-infused beverages.

Despite his achievements, Schultz faced criticism for his aggressive stance against baristas unionizing, which drew attention from Bernie Sanders and Starbucks Workers United. This dispute resulted in Schultz being questioned before a Senate committee on allegations of union busting shortly after stepping down as CEO.

Schultz had previously stated that he had no intentions of returning as CEO when interviewed by CNBC before his departure.

As Schultz leaves the board, his seat will be filled by Wei Zhang, a senior advisor to Alibaba and former president of Alibaba Pictures Group. Zhang’s experience with the Chinese e-commerce giant could benefit Starbucks in its efforts to revive its business in China, the company’s second-largest market. Her familiarity with trends such as mobile ordering in China has already influenced changes in Starbucks’ U.S. operations. Zhang has also held positions at News Corp China, CNBC China, Bain, General Electric, and currently serves on Ralph Lauren’s board.

With the addition of Zhang, Starbucks’ board now includes three women out of nine members, including chair Mellody Hobson and Land O’Lakes CEO Beth Ford.

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