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WASHINGTON - STARBUCKS chief executive has exited the company and will be replaced by the coffee chain's chairman Howard Schultz, the company said on Monday.
The company said Mr Schultz would succeed Mr Jim Donald and that the incoming CEO intends to slow the number of new stores being rolled out by Starbucks in the United States, as well as closing some outlets that are struggling to survive.
'Howard is the architect of the Starbucks brand and the visionary behind the unique customer experience that is at the heart of this remarkable company's success,' said Mr Craig Weatherup, chairman of the Starbucks board of directors' nominating and corporate governance committee.
'Given what the board believes needs to be done, there is no better person to drive change and ensure that Starbucks is positioned to innovate, execute and relentlessly focus the entire organization on the customer.'
Starbucks said Mr Schultz also intends to speed Starbucks's expansion overseas while streamlining the company's management ranks. -- AFP
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