Starbucks Corp.(NASDAQ: SBUX)famous CEO Howard Schultz has passed the baton to his successor Kevin Johnson. Schultz’s new role in the global empire he has built will be will of an executive chairman and he will focus on the company’s higher-end businesses, including the Reserve Roasteries, retail stores, and social issues.
“I’m proud to give Kevin the key to the company and to the Pike Place store,” said Schultz.
Addressing shareholders directly Schultz indicated that they should be “very, very comfortable that the company is in extraordinary hands with a great person and a great leader... Above all, he is a servant leader with a tremendous sense of humanity, compassion, and deep understanding of the human condition.”
Starbucks has big plans for the near future. The company announced plans to open 12,000 new stores around the world, 3,400 of them in the U.S. and create more than 240,000 jobs globally by the year 2021. Starbucks has a strong emphasis on China, where the company already employs about 40,000. Starbucks also committed to hiring 25,000 veterans and military spouses by the year 2025.
Johnson also talked about plans to expand the copmany’s roastery concept with new locations to be opened in Shanghai later this year and in New York, Milan and Tokyo in 2018.