Howard Schultz rejoins Starbucks as interim CEO as the company faces multiple challenges, including an unprecedented wave of unionization at stores across the country.
Starbucks Executive Chairman Howard Schultz, seen at a shareholder meeting in 2018, returned to Starbucks as interim CEO on Monday. the departure of Kevin JohnsonSchultz built Starbucks into a global powerhouse over three decades, overseeing the company as it grew from 11 stores and 100 employees to 28,000 stores worldwide.
Starbucks employees celebrate after the votes to unionize are counted at one Buffalo, N.Y., location on Dec. 9, 2021. "It's happening, and we have the support we need," says Claire Picciano, a barista and barista trainer at a Starbucks store in Springfield, Va., that will be voting on a union April 13 and 14."We have customers. We have each other. Nothing they do is going to change like the way the train's going.
In October, the company said it would spend $20 billion on dividends and stock buybacks over three years. When companies use cash to purchase shares of their own stock it normally boosts the stock price. So investors looking for short-term gains like stock buybacks. But it means less money invested in company operations.Schultz has urged employees to reject union
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