Starbucks said it was well on its way to finding a CEO successor, it said in a conference call on quarterly results last month.
The coffee shop chain said that Howard Schultz has agreed to remain as interim CEO until the first quarter of 2023.
“This timetable offers the company the ideal passage for a smooth transition and continuation of leadership in the 2022 holiday season, as the business transformation continues,” the company said in a statement.
The company is expected to make an announcement for the CEO in the fall and the official delivery will take place in the first calendar quarter of 2023.
Schultz returned to the company he led from 1986-2000 and again from 2008-2017, in April.
The company’s share is strengthened pre-conference 1.5%.
Source: Capital
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