ICYMI: Starbucks CEO Kevin Johnson is retiring after 5 years on the job. Howard Schultz will return as interim CEO.
Howard Schultz will return as interim CEO, once again taking the helm of the coffee chain he elevated to a global brand while the company searches for a long term successor. This will be his third tenure as Starbucks' chief executive.
In his time as head of the company, shares of Starbucks rose more than 50%, including Wednesday's gains. The stock underperformed compared with the S&P 500, which rose 83% in the same time." on Wednesday that the company intends to select a permanent successor by the fall.She added the company already has a number of strong candidates in contention for the top job.
"We have a great slate of candidates. People want this job, and we're fully confident we'll have a new leader in the fall," she said. "He's not going to stay for three years. ... We get him until the fall, full stop. Trust me."
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