Schultz stepped down for the second time and the current COO Johnson of Starbucks CEO- will take over.
When Schultz joined Starbucks as president of operations and marketing in the 1980s, the company had only four stores.
Today, with more than 21000 stores in 65 countries, the coffee brand is one of the fastest growing companies in the United States and the largest coffee chain in the world, with a total market capitalization of $84.9 billion.
Just last year, Starbucks had revenue of $19 billion and a profit of $2.8 billion, an all-time high.
He deeply rooted the concept of Starbucks'"third space", and "human connection" gave the coffee company unparalleled charm, paved a way for Starbucks to spread its culture, and had a great impact on the coffee industry as a whole.
With the development of the Internet, Schultz led Starbucks to stand at the front of the wave and make efforts in the "fourth space" of users' Internet life.
The introduction of mobile clients, social networks have a strong sense of existence, and layout their own ecosystem in mobile payments, which strives for more imagination for the future.
Schultz's successor, Kevin Johnson, became a member of Starbucks' board in 2009 and became chief operating officer (COO) in March 2015, according to information.
Before that, Kevin Johnson had been in the technology industry for 33 years. Among them, he held a series of executive positions at Microsoft for 16 years.
Will Starbucks' choice of him as the next CEO be a signal to make itself more "tech-conscious"? Retail legends
This is not the first time Schultz has vacated the position of chief executive. He served as chief executive of the company from 1987 to 2000 and stepped down in 2000.
Starbucks, which was in trouble during the financial crisis, returned in 2008.
In the financial comments all over the world, Schultz appears in front of the world as a "legendary business tycoon" all the year round.
Many of the pictures of the legendary CEO online are standard grins, from which you can feel Starbucks' business philosophy of paying attention to humanistic care. Starbucks chairman and CEO Howard Schultz will step down as chief executive and COO Johnson will succeed Starbucks as Starbucks' new CEO, Starbucks said on Thursday.
These changes will take effect on April 3 next year.
With the departure of the legendary head of the global coffee chain, Starbucks shares tumbled 11% at one point.
Schultz stepped down as CEO of Starbucks for the second time
The legendary CEO will not leave Starbucks, and Schultz will continue to serve as chairman and chief executive after leaving office, according to an official statement.
Kevin Johnson, the current president and chief operating officer, will succeed Schultz as CEO.
"I'm not leaving the company. I'm here every day," Schultz said on an investor conference call that day.
He added that the focus would be on building a new brand business within the company, helping Starbucks open more high-end stores and continuing to participate in public welfare.
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