A familiar face is returning to lead Starbucks Corp. — on an interim basis.
Starbucks Corp. on Wednesday said that president and CEO Kevin Johnson, 61, will retire after 13 years with the company, effective April 4. Johnson, who had led the coffee giant since 2017, will serve as a consultant to the company and its board through September.
Howard Schultz, the founder and former CEO of Starbucks, will return to the company as interim CEO and will also rejoin the Starbucks board. Schultz, who will be compensated $1 for his work, will also assist the company with its search for a new CEO and help onboard the new leader.
Source: Chain Store Age
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