Starbucks executive chairman Howard Schultz is stepping down later this month in a move likely to fuel speculation he is preparing for presidential bid.
Mr Schultz, 64, announced on Monday that he would quit later this month after leading the coffee giant as CEO and an executive chairman since the late 1980s.
Speaking after the decision emerged, Mr Schultz acknowledged a potential move into politics as he said he is “deeply concerned” about the world standing of the US.
It comes after Mr Schultz, who oversaw the coffee company’s transformation into a global chain with more than 28,000 locations, left his CEO job at the firm last year.
His departure from Starbucks comes amid rumours surrounding the businessman’s possible political ambitions, which he acknowledged in an interview today.
Speaking to the New York Times, Mr Schultz said: “For some time now, I have been deeply concerned about our country — the growing division at home and our standing in the world.
“One of the things I want to do in my next chapter is to figure out if there is a role I can play in giving back.”
He added: “I’m not exactly sure what that means yet.”
Mr Schultz will keep his title of chairman as an honour following his exit on June 26, the coffee company said in statement.
Starbucks, a Seattle-based chain, said Myron E. "Mike" Ullman would be the new chairman of the board upon Mr Schultz's departure.
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