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Starbucks CEO Howard Schultz to step down | Reuters

Firstpost Thursday, 1 December 2016
Starbucks Corp (SBUX.O) 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.

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News video: Starbucks CEO to Step Down in April 2017

Starbucks CEO to Step Down in April 2017 00:43

According to the coffee chain on Thursday, Starbucks Chairman and CEO Howard Schultz will step down as the company's chief executive. Starbucks added in a statement that current President and COO Kevin Johnson will become its next CEO while Schultz will transition to executive chairman. The changes...

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