Starbucks CEO Kevin Johnson To Retire; Board Names Howard Schultz Interim CEO

(RTTNews) - Starbucks Corp. (SBUX) announced Kevin Johnson, president and chief executive officer, plans to retire. Johnson will transition from his current role on April 4, 2022, and will continue to serve as a Starbucks partner and special consultant to the company and Board through September. The Starbucks Board anticipates selecting a new leader by the Fall.

Johnson, who has served on the Starbucks Board since 2009, joined the Starbucks leadership team in 2015 as president and chief operating officer. In 2017, Johnson was named president and chief executive officer.

The Board has appointed Howard Schultz as interim chief executive officer, effective April 4, 2022. Schultz will also rejoin the company's Board. The company's Board has formed a working committee to oversee the CEO search process. Schultz will participate in the search process.