Here are your FOX Business Flash top headlines for March 16.
Starbucks CEO Kevin Johnson is retiring and Howard Schultz is returning to lead the coffee giant temporarily.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 83.12 | +3.83 | +4.83% |
In a letter to employees Johnson, who succeeded Schultz as CEO in 2017 said: “A year ago, I signaled to the Board that as the global pandemic neared an end, I would be considering retirement from Starbucks,” Johnson said in a statement. “As I make this transition, we are very fortunate to have a founder who is able to step in on an interim basis, giving the Board time to further explore potential candidates and make the right long-term succession decision for the company.”
In this Dec. 7, 2016, file photo, Starbucks President and COO Kevin Johnson presents during the Starbucks 2016 Investor Day meeting, in New York. (AP Photo/Richard Drew, File)
Schultz, who has dabbled in politics and weighed a presidential run, helped shepherd the coffee giant into the global leader it is today.
