The arrogance of a CEO of a major company like Starbucks, that would put his radical political opinions above the health of the company and the stockholders is astounding. The idea that Howard Schultz believed he could say Starbucks would make hiring 10,000 refugees a priority, while so many Americans are out of work, and it wouldn’t harm the Starbucks brand is beyond foolish…
The arrogance of a liberal Starbucks CEO has backfired on him. He has to step down from his high position.
Howard Schultz will be replaced as Starbucks CEO next month.
Schultz was in the news recently when he arrogantly said that Starbucks would hire 10,000 refugees in reaction to President Trump's first executive order on the temporary travel ban for nationals of seven Muslim-majority countries.
Many Americans were offended by Schultz's offer to refugees because many of them are not employed. They felt that Americans should have been a priority for jobs for a huge company like Starbucks. Trump has said that U.S.companies must give priority to Americans.
Trump supporters also got angry with the CEO's big offer to refugees because they know he is making a political statement against Trump.
Trump supporters called for a boycott of Starbucks since January 29. Shortly after, Starbucks has felt the effect. Sales went down.
Starbucks consumer perception levels as measured by YouGov BrandIndex's Buzz score, falling by two-thirds between January 29 and February 13.
The problem with Schultz is that he used his Starbucks position for his political agenda. Schultz is a known Democrat and public supporter of Hillary Clinton. He was even considered as a running mate for the Democratic nominee.
Schultz will remain with Starbucks as executive chairman. He will focus on Starbucks' high end coffee shops. It is a lower position in essence. The new job will also not allow him to make such big statements as what he arrogantly did with the supposed 10,000 jobs offer to refugees.
He will be replaced by current Chief Operating Officer Kevin Johnson who takes over next month.
It is a loss for Schultz and a victory in a sense for Trump supporters.