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Starbucks Founder Schultz Replaces CEO

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Starbucks Founder Schultz Replaces CEO

Food

Starbucks Founder Schultz Replaces CEO

Starbucks Founder Schultz Replaces CEO

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  • <iframe src="https://www.npr.org/player/embed/17923622/17923598" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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With its stock price down almost 50 percent from a year ago, Starbucks brings back founder and former CEO Howard Schultz to run the coffee giant. Schultz has publicly complained that Starbucks is "losing its way" and forgetting about consumers as it expands.

Schultz says he plans to open fewer stores this year. He also faces a slowdown in consumer spending and heavy competition from McDonald's. The hamburger chain plans to open coffee bars in its fast food outlets in a bid to steal Starbucks' customers.

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