June 4, 2018 / 8:29 PM / 6 months ago

Starbucks executive chairman Howard Schultz steps down

June 4 (Reuters) - Starbucks Corp said on Monday Executive Chairman Howard Schultz is stepping down, effective June 26.

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)

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