Starbucks Founder Howard Schultz To Return As CEO - Quick Facts

(RTTNews) - Starbucks Corp. (SBUX) announced the return of founder Howard Schultz as chief executive officer and as a director on the Board. Also, Starbucks will suspend its stock repurchasing program, effectively immediately.

Starbucks noted that during Schultz's previous four decades as CEO and chairman, the company grew from 11 stores to more than 28,000 stores in 77 markets around the world.

"I am returning to the company to work with all of you to design our next Starbucks - an evolution of our company deep with purpose, where we each have agency and where we work together to create a positive impact in the world," Howard Schultz said.