Starbucks is sliding after Howard Schultz steps down as chairman

Jeannie Matthews
June 5, 2018

Schultz joined Starbucks in 1982 and has overseen the company's global expansion.

In an interview with The New York Times, he acknowledged that he may consider a bid for the White House.

'For some time now, I have been deeply concerned about our country - the growing division at home and our standing in the world'.

He has spoken frequently about race, and Starbucks has taken progressive stances on social issues - including gay marriage, immigration and President Trump's travel ban. According to the New York Times, Schulze told Starbucks' board of his intentions to retire from the company about a year ago.

He has championed a higher minimum wage, offered some Starbucks employees free college and been outspoken on some of the most divisive issues in United States politics. In March, the company said it reached gender and race pay equity for all USA employees.

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Starbucks Chief Executive Howard Schultz speaks during the company's annual shareholders meeting in Seattle, Washington March 18, 2015. He is leaving at a tumultuous moment in Starbucks' history.

Schultz's departure came weeks after Starbucks revamped its store policies following the arrests of two customers at a Philadelphia store location. "We need to start". The incident was a blow for Starbucks which had previously tried - with mixed success - to enter the racial inequality debate by having baristas write "Race Together" on its coffee cups.

In an email to Starbucks employees obtained by CNNMoney, Schultz did not address a future in politics. But mostly, I sit here feeling a tremendous sense of gratitude.

Mr. Schultz, who grew up in the Canarsie section of Brooklyn, said watching his father, a World War II veteran who became a truck driver and later a taxi driver, struggle to make enough money to pay for basics had led him to offer complete health benefits for full- and part-time employees and their domestic partners, a first for such a chain.

"And from my perspective, we want to live in a country in which we love and respect every American".

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