Schultz announced he is stepping down from Starbucks’ board of directorseffective, June 26. Schultz, 64, is recognized as having turned Starbucks into a global coffee powerhouse. He stepped down as CEO in April 2017 and has served as executive chairman since then.
“I set out to build a company that my father, a blue-collar worker and World War II veteran, never had a chance to work for,” he said in a statement. “Together we’ve done that, and so much more, by balancing profitability and social conscience, compassion and rigor, and love and responsibility.”
Schultz has remained a key figure in Starbucks’ growth and evolution but has also made headlines for his political comments. He has been a vocal critic of President Donald Trump and an advocate for immigration rights.
Schultz said he plans to focus his energies on “social impact investing, innovative ways to use technology to create job opportunities for young people, veterans and underserved populations and to focus on developing the next generation of entrepreneurial leaders.”