Starbucks Former CEO Howard Schultz: I Am Never Coming Back'
Howard Schultz is not planning to take on the role of Starbucks CEO for a second time. However, he will remain loyal to the chain of coffee.
"I will never return to Starbucks because we have identified the right person to lead the company," he said Wednesday on Squawk Box.
Last week, Starbucks announced that Laxman Narasimhan, the head of British Reckitt Benckiser Group, will be the new CEO.
After Schultz announced his departure from Starbucks, some experts thought the decision could hinder Starbucks from hiri
ng an interim CEO.
The new CEO might not be in complete control, given the possibility of Schultz's return.
However, Schultz isn't stepping down from Starbucks entirely or at all. He plans to rema
in on Starbucks, the board of directors.
The company recently announced it was confident that Schultz is expected to continue serving as a consultant for Narasimhan until
the end of next year.
On the show's website, Squawk Box, Narasimhan described this interval as a "structured process of immersion," during which he interacts with Schultz an
d learns about the business.
"It's an amazing opportunity to be close with the company's legendary founding father," he said.
Schultz said in the program that he's "here to help" Narasimhan, calling Narasimhan "the ideal ca
ndidate to run Starbucks."