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Top Starbucks Exec To Step Down

Starbucks executive chairman and architect of its spectacular growth Howard Schultz is stepping down after 40 years with the company. He will be honored with the title of chairman emeritus, effective June 26. The news of his retirement sparked reports that Schultz is considering a run for political office. The company has appointed Myron E. “Mike” Ullman, former chairman and CEO of J.C. Penney, as its new chair of the board.

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