On Wednesday, coffee chain giant Starbucks announced that its former CEO, Howard Schultz, is stepping down from the company’s board of directors.
Schultz previously left his position as Starbucks CEO last March.
The step down from the board of directors is part of Starbucks’ predetermined transition plans, said Starbucks in a statement.
Despite his retirement from the company, Starbucks bestowed Schultz the honorific title of “lifelong Chairman Emeritus” on Wednesday.
