Howard Schultz Leaving Starbucks, May Run For President

SEATTLE, WA - Howard Schultz, the man who brought Starbucks coffee to every corner of the globe, will leave the company at the end of June to pursue philanthropy and public service - which some interpret to mean a possible presidential run in 2020.

Schultz, the executive chairman of Starbucks, first announced his departure through a story in the New York Times published Monday. In an interview, he addressed chatter of a possible presidential run.

“I want to be truthful with you without creating more speculative headlines,” he told reporter Andrew Ross Sorkin. “For some time now, I have been deeply concerned about our country — the growing division at home and our standing in the world.”

Schultz, 64, stepped down as Starbucks CEO in April 2017, handing the company to then-chief operating officer Kevin Johnson. He moved into a new role as executive chairman where he focused on new innovations, like the Starbucks Reserve stores. His last day as executive chairman of Starbucks will be June 26.

Schultz explained his decision to leave in a statement released by Starbucks Monday afternoon. In the letter, he described himself as "a kid from Brooklyn who grew up in public housing" and said that Starbucks changed lives "for the better" around the world.

"This will be an emotional transition, but I’m looking forward to spending time with my family this summer. I’m also writing a book about Starbucks social impact work and our efforts to redefine the role and responsibility of a public company in an ever-changing society.

"It’s a journey that has prompted me to consider the many ways that each of us, as citizens, can give back to our communities. I’ll be thinking about a range of options for myself, from philanthropy to public service, but I’m a long way from knowing what the future holds," Schultz wrote in the letter.

Schultz joined Starbucks in 1982. As marketing director, he pioneered the idea of coffee as a lifestyle and eventually helped open 25,000 Starbucks stores around the world. Schultz and Starbucks are often credited with ushering in the "second wave" coffee movement. Schultz also helped put Seattle on the map as a mecca for coffee culture.

According to the Times, Schultz was supposed to step down last month. He decided to stay after an incident at a Philadelphia Starbucks where two black men were arrested. The company closed almost all of it's U.S. stores last Tuesday to train staff on recognizing unconscious bias.

Caption: Executive Chairman of Starbucks Corporation Howard Schultz participates in a discussion at the Atlantic Council May 10, 2018 in Washington, DC. The Atlantic Council held a discussion on 'The Role of a Global Public Company.'

Photo by Alex Wong/Getty Images