REFILE-Starbucks CEO Howard Schultz to step down

(Corrects spelling of "coffee" in paragraph 1)

Dec 1 (Reuters) - 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)

We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue
Help us moderate this thread by flagging comments that violate our guidelines

Comment policy:

Philly.com comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by Philly.com staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Load comments
Continue Reading