The move is part of a planned transition, the coffee chain said Wednesday.
Schultz is retiring from the board effective immediately, Starbucks said. The move is part of a previously planned transition. Schultz stepped down from his third stint as chief executive in March, handing over the reins to new CEO Laxman Narasimhan.“I am enormously blessed to have experienced this journey from the ground floor at the company these many years,” Schultz said in a company statement.
Starbucks has elected Wei Zhang to the company’s board, effective Oct. 1. Zhang was recently a senior advisor to Alibaba Group and was formerly Alibaba Pictures Group ‘s president. She currently serves on the board for Ralph Lauren .Write to Sabrina Escobar at [email protected]
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