Starbucks CEO Loses Ground
No pun intended. Forbes Magazine recently published their list of the Top 400 Richest Americans and it seems that Starbucks CEO Howard Schultz is no longer included.
Although he’s obviously still doing quite well, Starbucks shares are showing a sharp decline of 32%, as compared to last year, a decline of which has cost Schultz approximately $229 million. While he owns over 17 million shares on his own, that type of dip has gotta hurt.
So what is he going to do to fix it? He is focusing on expanding the Starbucks chain oversears and further developing the store’s product drink line. I’ll drink to that.
Complete information on the Forbes 400 can be found right here.
Photo from Forbes.com.
I think the problem is the international market, because outside of United States, they are selling at very high local price and that makes it very expensive for locals to drink American coffee.