Howard Schultz

American businessman (born 1953) / From Wikipedia, the free encyclopedia

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Howard D. Schultz (born July 19, 1953)[2] is an American businessman and author who served as the chairman and chief executive officer of Starbucks from 1986 to 2000, from 2008 to 2017, and as interim CEO from 2022 to 2023. Schultz also owned the Seattle SuperSonics basketball team from 2001 to 2006.

Quick facts: Howard Schultz, Born, Education, Occupations,...
Howard Schultz
Schultz in 2019
Born (1953-07-19) July 19, 1953 (age 70)
EducationNorthern Michigan University (BA)
Years active1986–present
Known forLeadership of Starbucks and co-ownership of Seattle SuperSonics
2022–2023 (as interim CEO)
PredecessorJim Donald (second term)
Kevin Johnson (third term)
SuccessorOrin C. Smith (first term)
Kevin Johnson (second term)
Laxman Narasimhan (third term)
Political partyIndependent (2019–present)[1]
Other political
Democratic (before 2019)
Sheri Kersch
(m. 1982)
WebsiteOfficial website

Schultz began working at Starbucks in 1982. He later left and opened Il Giornale, a specialty coffeeshop that merged with Starbucks during the late 1980s. Under Schultz, the company established a large network of stores which has influenced coffee culture in Seattle, the U.S., and internationally. Following large-scale distribution deals, Starbucks became the largest coffee-house chain in the world. Schultz took the company public in 1992 and used a $271 million valuation to double their store count in a series of highly publicized coffee wars. He stepped down as CEO in 2000, succeeded by Orin Smith.

During the 2008 financial crisis, Schultz returned as chief executive. Succeeding Jim Donald, Schultz led a mass firing of executives and employees and shuttered hundreds of stores. He orchestrated multiple acquisitions of American and Chinese beverage companies, introduced a national loyalty program, and enforced fair trade standards. His aggressive expansion in Chinese markets has been credited[by whom?] with reconciling the country's tea-culture with coffee consumption in China. Schultz was succeeded by Kevin Johnson as CEO in April 2017 and Myron Ullman as chairman in June 2018.

Schultz has written four books on business. He is an outspoken neoliberal. Schultz publicly considered a candidacy in the 2012, 2016, and 2020 U.S. presidential elections as an independent candidate. He declined to join all three contests. His positions on domestic politics are socially liberal and fiscally moderate. In foreign policy, he is seen as a "liberal hawk", favoring American-led international affairs and neoliberalism. Schultz was named the 209th-richest person in the U.S. by Forbes with a net worth of $4.3 billion (October 2020).[3] Schultz started the Schultz Family Foundation to help military veterans and fight youth unemployment.

On March 16, 2022, Starbucks announced that CEO Kevin Johnson was retiring and that Howard Schultz would take over as interim CEO until Laxman Narasimhan took over as CEO in April 2023.[4][5] On March 20, 2023, Schultz announced that he would be stepping down early from the position.[6]

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