Starbucks

Interim CEO outlines reinvention plan

Schultz joined Starbucks in 1982 at the age of 29, stepped down as CEO in April 2017 and came back in April 2022. Now, Schultz wants to reinvent the brand.
Starbucks
Schultz joined Starbucks in 1982 at the age of 29, stepped down as CEO in April 2017 and came back in April 2022. Now, Schultz wants to reinvent the brand.

In a letter to Starbucks partners, chief executive officer Howard Schultz shared a set of principles and a new partnership for the reinvention of the next chapter of the company. "This is the next chapter of Starbucks," Schultz announces. More details are supposed to be revealed in the coming weeks.

In April, Howard Schultz took over as the replacement for Kevin Johnson. Starbucks' longtime top executive is supposedly leading the company until March 2023. Now, the interim CEO hinted at potentially significant changes as part of a strategy to "reinvent" the coffeeshop chain, declaring that "this is the next chapter of Starbucks" while listing several "bold ideas" that will guide the chain's future going forward.
„We aim to be a wholly new kind of company in our industry, setting a new standard.“
Howard Schultz

In a letter to partners, Schultz wrote: "Today, we find ourselves in a position where we must modernize and transform the Starbucks experience in our stores and recreate an environment that is relevant, welcoming and safe, and where we uplift one another with dignity, respect and kindness. We need to reinvent Starbucks for the future. And to be successful, it will take our collective courage to begin again.

Schultz also outlines how this reinvention could start by setting up "five bold moves:
  • Re-envision how we bring our mission to life.
  • Renew the well-being of retail partners by radically improving their experience.
  • Reimagine our store experience for greater connection, ease and a planet positive impact.
  • Reconnect with our customers by delivering memorable and personalized moments.
  • Redesign partnership by creating new ways to thrive together.

Specific programs and initiatives to deliver upon this set of bold moves would be announced in the weeks ahead, Schultz writes. His letter ends with an invitation to support the process: "The work of our Reinvention is ongoing - and all Starbucks partners who believe in our purpose and potential as a company can make a significant contribution in building our path forward."


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