On June 26, Howard Schultz will formally step down as executive chairman and a board member of Starbucks, and will be honoured with the title of chairman emeritus.
According to the Times, Schultz had initially planned to announce his retirement last month, but put the plan on hold after the incident, in which two black men were arrested in a Philadelphia store.
The company temporarily closed more than 8,000 US stores after the arrest, for racial bias training. The incident was a blow for Starbucks which had previously tried – with mixed success – to enter the racial inequality debate by having baristas write “Race Together” on its coffee cups.
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