Second return of Howard Schultz at Starbucks

The famous former two-time CEO of the American coffee giant Starbucks Howard Schultz makes another return to lead Starbucks through another tumultuous period.

In his first stint as CEO Schultz built Starbucks from a coffee chain of 11 locations in 1987 into a global brand that had a revenue of $2,2 billion and 3 500 locations. His first return came during the financial crisis, when the company had according to Schultz a “near death experience”. Schultz helped Starbucks transform itself and return to a growth path.

Schultz stepped down from his role as CEO in 2018.

Now as Kevin Johnson retires as CEO, Schultz comes in as an interim CEO to “transform once again to meet a new and exciting future where all of our stakeholders mutually flourish”.

The last part probably relates to the rising interest in unionisation among the Starbucks staff. Something that Schultz is deeply and personally against.

Financially Starbucks has recovered well from the pandemic growing by double digit numbers four quarters in a row. The company has already passed the 2019 levels also.