Starbucks Executive Chairman and former Chief Executive Officer Howard Shultz is set to retire, the company announced today.
According to CNBC, Shultz announced his retirement in a memo to staff. His memo stated that his future is not yet decided.
“I’ll be thinking about a range of options for myself, from philanthropy to public service, but I’m a long way from knowing what the future holds.”
Shultz reportedly told his Board of Directors about his plan to retire last year when his transitioned out of his former role as Chief Executive Officer.
Shultz told the New York Times that he is concerned for the country.
“I want to be truthful with you without creating more speculative headlines,” Schultz told the Times. “For some time now, I have been deeply concerned about our country — the growing division at home and our standing in the world.”
Commentary: It sure does seem like Howard Shultz is looking to run for President. Over the next 12-16 months, we are bound to see Presidential bids become public. Shultz essentially has a year to begin the process of building his campaign.