Starbucks Chief Executive Howard Schultz’s announcement to hire 10,000 refugees in response to President Donald Trump’s first travel ban hurt sales at the giant coffee chain, forcing him to step down from his post in April.
Schultz’s pledge to hire thousands refugees in late January rallied Trump supporters to call for a boycott of the Seattle-based coffee giant.
Analysts at Credit Suisse said the decision had a negative impact on the company’s recent sales, and could continue to do so for some time.
100% Fed Up reports:
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…
Schultz, who has publicly supported Hillary Clinton, was once considered as a running mate for the defeated Democratic nominee.
Schultz will be replaced as CEO by Starbucks’ chief operating officer Kevin Johnson on April 3 but will remain as executive chairman, the Daily Mail said.