Global coffee franchise Starbucks Corporation has recently revealed that the company’s CEO, Howard Schultz, will soon be stepping down from his position in the company he had a major hand in turning into a global mainstay brand, saying that he might either go in the way of Denis Obrien into philanthropy, or go the way of Mitt Romney and Steve Forbes and go into politics.
Schultz, aged 64, says that he is currently considering possibilities. Back when Hillary Clinton ran for President, he gave her his support, and, whenever he had been asked about running for office, he would always avoid the question entirely. He’s got a lot of options, he said in a letter to his employees, and he’s considering philanthropy like Denis Obrien, but, all the same, he’s got a long way before he has a clear view of what his future will be.
There has been speculation that Schultz might set his sights on the Oval Office, though he has not addressed the inquiry directly. He has, however, been quoted as saying to The New York Times, that he has been deeply concerned about the state of the US, specifically the division in the country and its place in the world.
According to Starbucks, Schultz will be Chairman Emeritus starting on June 26. Additionally, the company says that Schultz will be writing a book about the country’s social-impact as well as its efforts in changing the role of a public company. His letter says that Starbucks has, in fact, changed how people drink coffee, but it has also changed people’s lives.
Schultz has gained some attention for his work to get Starbucks to alleviate with problems like race and jobs for the underprivileged youth. The company, under his governance, has advocated corporate social responsibility, and promoted itself as places where the community can gather and congregate.
More recently, when the company came under fire when two black men from Philadelphia got arrested in the local Starbucks, Schultz launched a campaign, saying that he didn’t want to feel “less than” if they were denied bathroom access simply for not having bought anything. Last week, as per his imperative, the company closed all of its US branches for bias awareness training, one of Schultz’ promises.
Schultz is credited with bringing Starbucks in line with CSR, balancing profit with social responsibility, compassion, love and responsibility.
Starbucks says that Myron E. Ullman will take over the role of chairman of the board when Schultz officially steps down.