FOX Business Flash top headlines for April 1
Here are your FOX Business Flash top headlines for April 1.
Starbucks' Howard Schultz returns as chief executive with a promise to ease employee angst with more perks being funded through the halting of share repurchases.
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In his first letter to employees upon returning as interim CEO Monday, Schultz announced that the coffee giant is suspending its stock repurchasing program effective immediately to refocus its capital.
"This decision will allow us to invest more profit into our people and our stores — the only way to create long-term value for all stakeholders," Schultz said in his first letter to employees upon returning as interim CEO Monday.
Schultz is taking over the reins of the coffee giant once again Monday, temporarily replacing CEO Kevin Johnson who announced in March that he would be stepping down after a 13-year tenure at the company. Johnson had signaled a year ago that he was considering stepping down once the global pandemic neared an end.
Schultz, who has dabbled in politics and weighed a presidential run, spent three decades shepherding the coffee giant into the global leader it is today with over 28,000 locations. He previously served as the chief executive from 1986 to 2000 and again from 2008 to 2017.