Kevin Johnson to become chief executive officer and assume
full responsibility for Starbucks global business and operations; Howard
Schultz to become executive chairman and focus on retail innovation
and accelerating growth of Starbucks ultra-premium retail formats
SEATTLE--(BUSINESS WIRE)--
Starbucks Corporation (NASDAQ: SBUX) today announced that Kevin Johnson,
president and chief operating officer and a 7-year member of the
Starbucks Board of Directors, will expand his responsibilities and
assume the role and responsibilities of president and chief executive
officer, effective April 3, 2017.
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Kevin Johnson, president and coo of Starbucks, will expand role to ceo effective April 3, 2017. Howard Schultz, chairman and ceo, will be appointed executive chairman. (Photo: Business Wire)
Also effective April 3, 2017, Howard Schultz, chairman and ceo, will be
appointed executive chairman and 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. In this new
role Schultz will continue to serve as chairman of the Board.
“Starbucks consistently outperforms the retail industry because our
stores, our offerings and the experiences our partners create make us a
destination. The best evidence of the success of the core strategy
driving our business is that we continue to deliver quarter after
quarter of record, industry leading revenue, comp sales and profit
growth, and that the newest classes of Starbucks stores continue to
deliver record-breaking revenues, AUV’s and ROI — both in the U.S. and
around the world,” said Schultz. “As I focus on Starbucks next wave of
retail innovation, I am delighted that Kevin Johnson — our current
president, coo, a seven-year board member and my partner in running
every facet of Starbucks business over the last two years — has agreed
to assume the duties of Starbucks chief executive officer. This move
ideally positions Starbucks to continue profitably growing our core
business around the world into the future.”
As president and chief operating officer since March 2015, Johnson has
led the company’s global operating businesses across all geographies as
well as the core support functions of Starbucks supply chain, marketing,
human resources, technology, and mobile and digital platforms. Johnson
has been a Starbucks board member since 2009, and will continue to serve
as a member of the Starbucks board of directors.
"Over the past two decades, I have grown to know Starbucks first as a
customer, then as a director on the board, and for the past two years as
a member of the management team. Through that journey, I fell in love
with Starbucks and I share Howard’s commitment to our mission and values
and his optimism for the future," said Johnson. “It is an honor for me
to serve the more than 300,000 partners who proudly wear the green apron
and I consider it a privilege to work side-by-side with Howard, our
world-class board of directors, and a very talented leadership team.
Together, we will reaffirm our leadership in all things coffee, enhance
the partner experience and exceed the expectations of our customers and
shareholders. We believe in using our scale for good and having positive
social impact in the communities we serve around the world.”
Johnson's career spans 33 years in the technology industry which
included a 16-year career at Microsoft and a five-year tour as CEO of
Juniper Networks. At Microsoft, he led worldwide sales and marketing and
became the president of the Platforms Division. In 2008, he was
appointed to the National Security Telecommunication Advisory Committee
where he served Presidents George W. Bush and Barack Obama. He joined
the Starbucks board in 2009 and the management team in 2015.
Conference Call Details
Starbucks will hold a conference call hosted by Howard Schultz and Kevin
Johnson today, December 1, at 1:30 p.m. Pacific Time/4:30 p.m. Eastern
Time. The conference call will be webcast and can be accessed on the
company’s website: http://investor.starbucks.com.
A replay of the webcast will be available on the company’s website until
end of day on Tuesday, January 3, 2017.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to ethically
sourcing and roasting high-quality arabica coffee. Today, with
more than 25,000 stores around the globe, the company is the premier
roaster and retailer of specialty coffee in the world. Through our
unwavering commitment to excellence and our guiding principles, we bring
the unique Starbucks Experience to life for every customer through every
cup. To share in the experience, please visit us in our stores or online
at www.starbucks.com and
www.news.starbucks.com.
Forward Looking Statements
Certain statements contained herein are “forward-looking statements”
within the meaning of the applicable securities laws and regulations.
Generally, these statements can be identified by the use of words such
as “anticipate,” “expect,” “believe,” “could,” “estimate,” “feel,”
“forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,”
“will,” “would,” and similar expressions intended to identify
forward-looking statements, although not all forward-looking statements
contain these identifying words. These statements are based upon
information available to Starbucks as of the date hereof, and Starbucks
actual results or performance could different materially from those
stated or implied due to risks and uncertainties associated with its
business. These risks and uncertainties include, but are not limited to,
fluctuations in U.S. and international economies and currencies, our
ability to preserve, grow and leverage our brands, potential negative
effects of incidents involving food or beverage-borne illnesses,
tampering, contamination or mislabeling, potential negative effects of
material breaches of our information technology systems to the extent we
experience a material breach, material failures of our information
technology systems, costs associated with, and the successful execution
of, the company’s initiatives and plans, the acceptance of the company’s
products by our customers, the impact of competition, coffee, dairy and
other raw materials prices and availability, the effect of legal
proceedings, and other risks detailed in the company filings with the
Securities and Exchange Commission, including the “Risk Factors” section
of the Starbucks Annual Report on Form 10-K for the fiscal year ended
October 2, 2016. The company assumes no obligation to update any of
these forward-looking statements.
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Source: Starbucks Corporation