Starbucks' Howard Schultz praises incoming CEO as he preps for final exit
Wachiwit

Starbucks Corporation (NASDAQ:SBUX) CEO Howard Schultz told CNBC on Wednesday morning that he does not plan to return to the company after serving out his current stint as interim CEO.
Schultz first served at Starbucks from 1986 to 2000 after he bought the retail unit of the existing chain. He returned to Starbucks again from 2008 to 2017 to lead the company and then again in April of 2022 in his third stint as CEO.
In turning over the reins again, Schultz said Starbuck (SBUX) has found the right person to lead the coffee chain giant with the hiring of Laxman Narasimhan, who is currently the CEO of Lysol owner Reckitt.
Last week, the new CEO at Starbucks was given high marks by analysts.
On tap: Starbucks will hold an investor day in Seattle next week when the company is expected to update on its new strategies and initiatives. Read the latest breakdown on SBUX from Seeking Alpha authors.