In April 2022, Starbucks (SBUX) brought back founder Howard Schultz as interim CEO. However, the coffee chain is searching for a permanent CEO as Schultz plans to step down by March 2023. Starbucks is considering external candidates for the top job as it seeks fresh blood that would bring new talent and skills. “For the future of the company, we need a domain of experience and expertise in a number of disciplines that we don’t have now...It requires a different type of leader,” the Wall Street Journal quoted Schultz. Meanwhile, as Starbucks favors external candidates in the CEO hunt, several veteran executives are leaving the coffee chain.
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