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Starbucks CEO Howard Schultz to step down | Reuters

Firstpost Howard SchultzHoward Schultz
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.

The post Starbucks CEO Howard Schultz to step down
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Source: CBS News - < > Embed

News video: Howard Schultz stepping down as Starbucks CEO

Howard Schultz stepping down as Starbucks CEO 00:28

Howard Schultz has announced he will will step down as Starbucks' CEO next year. Current president and COO Kevin Johnson will replace him. CBSN's Reena Ninan has more details.

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