Starbucks CEO Howard Schultz is weeks from stepping down after his anti-Trump vow to hire 10,000 refugees backfired, provoked a boycott by Donald supporters and hit sales

[SirLinksALot]

SOURCE: THE DAILY MAIL

URL: http://www.dailymail.co.uk/news/article-4329198/Starbucks-Howard-Schultz-step-CEO-April.html

By CHEYENNE ROUNDTREE FOR DAILYMAIL.COM



* Howard Schultz will be replaced as Starbucks CEO by Kevin Johnson on April 3

* The 63-year-old made the announcement in December and  will remain at the company as executive chairman

* He will focus on innovation and building up Starbucks' high-end coffee shops

* Schultz, originally from Brooklyn, has an estimated net worth of $3.1billion

* He is 'definitely being pursued' as a Democratic presidency candidate in 2020 



Howard Schultz, the current CEO of Starbucks, is weeks away from stepping down from his role at the giant coffee chain next month.

The move, which was announced in December of last year, comes after his vow to hire thousands refugees in response to President Donald Trump's first travel ban appeared to hurt customer sentiment and dent their sales.

Trump supporters have called for a boycott of the chain since January 29, when Schultz vowed to hire 10,000 refugees over five years.



In the announcement that he was stepping down, Schultz said he 'will shift his focus to innovation, design and development of Starbucks Reserve® Roasteries around the world, expansion of the Starbucks Reserve® retail store format and the company's social impact initiatives' and 'focus on Starbucks next wave of retail innovation.'

Schultz has always been vocal about the need for greater sensitivity in balancing profit margins while advancing socio-economic conscientiousness.

 He was also a public Clinton supporter and prominent democrat, and even considered as a running mate for the Democratic nominee at one point.

Schultz in a letter to employees said the promise of the American Dream was 'being called into question' and that 'the civility and human rights we have all taken for granted for so long are under attack.'

Almost immediately consumer perception levels took a hit as measured by YouGov BrandIndex's Buzz score, falling by two-thirds between January 29 and February 13.
The same company also noted that the data around this boycott is different because both the measures of consumers' sentiment towards companies and their willingness to purchase from those brands are declining.

At the time, analysts at Credit Suisse said the coffee giant's move had a negative impact on recent sales, and could continue to hurt them in the near future.
Schultz, with an estimated net worth of $3.1billion, will remain at Starbucks as executive chairman and will focus on strengthening the company's high-end coffee shops.



Excerpt only Read more: http://www.dailymail.co.uk/news/article-4329198/Starbucks-Howard-Schultz-step-CEO-April.html#ixzz4bpeHZ0bG

[DB]

It is hard to understand how Schultz can be so brilliant and stupid at the same time.

PC blew up his common sense.

[Sanguine]

It is hard to understand how Schultz can be so brilliant and stupid at the same time.

PC blew up his common sense.

Yeah, there are quite a few people like that.  Baffling.

[IsailedawayfromFR]

It is hard to understand how Schultz can be so brilliant and stupid at the same time.

PC blew up his common sense.

I would say his statement to hire non-Americans in lieu of Americans can reside in the realm of one of the most unpatriotic quotes ever uttered by a leader of an American company.