Starbucks’ Schultz to Step Back, Focus on High-End Strategy
In a move that signals Starbucks’ increasing emphasis on the high end of the coffee market, Chairman and CEO Howard Schultz is stepping back from some of the more day-to-day operations of the coffee chain to focus on long-term global strategy and innovation. Starting Sept. 1, his priorities will be on Starbucks’ higher-end businesses, including the Roasteries, the high-end coffee shops Starbucks first opened in 2014; the Reserve Stores, which sell and brew Starbuck’s more premium, small-lot Reserve coffees; and Princi, the high-end bakery chain Starbucks just invested in.
Total Retail's Take: This news comes on the heels of Starbucks’ announcement that it sales growth slowed globally in its most recent quarter, particularly in the Americas. Schultz will be spending his time focusing on long-term strategy, and identifying new ventures to grow the brand. While it doesn't appear as if Schultz will be stepping away completely any time in the near future, he hasn't been shy about giving his feelings on politics. Could this be a future endeavor?