"For his skill, his leadership, and above all, his love for the company, I am proud to call Kevin Johnson the next CEO of Starbucks", Schultz, who'll remain as executive chairman, said Wednesday during an annual shareholders' meeting of his successor, the company's current COO. Saying he had "venti shoes to fill", Johnson pledged to continue to adhere to Starbucks' values and many social causes the company has supported.
Schultz, who endorsed Hillary Clinton during the campaign past year, said that it's too soon to tell whether Trump's policies will hurt Starbucks. All told, Starbucks may open "20-30 Roasteries globally over time".
Tapping into the barrel-aged-beverage trend, Starbucks recently launched whiskey barrel-aged Starbucks Reserve coffee out of its Seattle Roastery, which serves as the company's innovation incubator. However, during the meeting, Schultz said Starbucks had already exceeded the company's goal by hiring 40,000 young people, resulting in the decision to expand the hiring goal to 100,000 young Americans by 2020.
Fueling the company's ambitious hiring plans is its continuing aggressive store growth.
Now available to more than 100,000 customers across the USA, the My Starbucks Barista platform will be rolled out nationwide later this year.
In the U.S., Starbucks is planning for 3,400 new locations by fiscal 2021, or about 680 stores a year, on average.
The new menu is part of a bigger plan by the coffee giant to capitalize on strong lunch sales.
The program will showcase salads and sandwiches that are made fresh daily in each location, with the unsold portions being donated to Starbucks' hunger relief program, FoodShare, run in conjunction with Feeding America.
During their annual shareholders meeting, the mega-popular coffee chain announced a planned integration with Amazon's Alexa voice assistant and Ford's Sync 3 platform to allow customers to place their orders directly from the driver's seat.
Addressing Starbucks' recent hiccups with its mobile ordering platformand the stock's downtrend, Schultz said he was confident that the company would bounce back.
"We are committed to double the number of stores in China over the next five years", Johnson said.
The company also announced details to bring customers in beyond the morning hours.
Overall, Starbucks wants to hire 240,000 people globally, including 68,000 in the US, by 2021, as part of the company's expansion plans. It's also doubling down on its commitment to the nation's veterans.
Starbucks boasted that it had reached its initial goal of hiring 10,000 veterans and military spouses ahead of its 2018 deadline and will be expanding its goal to 25,000 by 2025.
"We recognize what our responsibility is in addition to making a profit", Schultz said. "They are based on principles and our core beliefs".