The man that helped create the coffee giant, Starbucks, is stepping down from his position as the chief executive officer next April.

Howard Schultz will still be with the company but he wants to take on other roles. He plans to focus on the company’s involvement in social causes and on growing Starbucks Reserve, the company’s new superpremium brand and chain of high-end stores.

Schulz told the New York Times, “I got succession wrong the first time.” Of Mr. Johnson, he said, “I’m not going to be hovering and shadowing him.” Read more

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