Starbucks announced that Howard Schultz, the company’s modern-day founder and chairman emeritus, will step down from the board of directors as part of a planned transition. Schultz previously stepped down as CEO in March. "Schultz transformed Starbucks from a small company selling only whole beans to the renowned third place that it is today with more than 36,000 stores in 86 markets around the world," per QSR Magazine.