(Reuters) - Starbucks Corp said on Monday Executive Chairman Howard Schultz is stepping down, effective June 26.
FILE PHOTO: Starbucks Chief Executive Howard Schultz speaks during the company's annual shareholders meeting in Seattle, Washington March 18, 2015. REUTERS/David Ryder/File photo
Schultz, who grew Starbucks from 11 stores to more than 28,000 stores in 77 countries, transitioned from the coffee maker’s chief executive officer to executive chairman last year.
Starbucks board named Myron Ullman as its new chair and Mellody Hobson as vice chair effective upon Schultz’s retirement.
Reporting by Tamara Mathias in Bengaluru; Editing by Anil D'Silva
