NEW YORK (AP) - Starbucks said CEO Howard Schultz, who transformed the chain into a global coffee brand, is stepping down from that role at the chain he joined more than 30 years ago.
The Seattle-based company announced Thursday that Kevin Johnson, who was named president and chief operating officer last year, will become chief executive as of April 3.
Schultz, currently chairman and CEO, will become executive chairman to focus on innovation and social impact activities, among other things.
In a message to Starbucks employees, Schultz spoke of his "enduring love" for the company and called himself "incredibly excited" to work on projects such as the expansion of premium Starbucks Roasteries around the world.
He is credited with turning around the coffee chain's fortunes since returning as its CEO in 2008. Schultz, 63, has overseen the expansion of the company's popular loyalty program and mobile app and worked to expand food and beverage offerings.
Speaking on a conference call, Johnson called Schultz one of the world's "most iconic leaders and entrepreneurs."