Starbuck's sales went in the shitter also, the CEO was replaced
You really need to read more, not because sales went into the shitter.
Starbucks CEO Howard Schultz Is Stepping Down
Starbucks chief executive Howard Schultz will step down from his role in 2017, ending a successful tenure atop the coffee giant in which he steered it to become a strong performing global powerhouse.
The coffee chain on Thursday announced that effective April 3, Schultz would retain his role as executive chairman but would no longer serve as CEO so he could pivot his focus on "innovation, design and development of Starbucks Reserve Roasteries around the world." Schultz has been advocating a push into more
premium coffees as a way for Starbucks
(SBUX, -0.52%) to compete and establish its brand with a stronger footing for the future. He's sought to explore new concepts like the Starbucks Roastery in Seattle, a massive retail location that has a cafe and tasting room and helped kick off the company's bigger bet on a more premium retail and coffee experience.
Kevin Johnson, who served as president and chief operating officer and is a seven-year member of the Starbucks board, will succeed Schultz.
"As I focus on Starbucks next wave of retail innovation, I am delighted that Kevin Johnson–our current president, COO, a seven-year board member, and my partner in running every facet of Starbucks business over the last two years–has agreed to assume the duties of Starbucks chief executive officer," Schultz said in a statement. "This move ideally positions Starbucks to continue profitably growing our core business around the world into the future."