The man many consider to be behind Starbucks' success is leaving the company. Employees were notified by company memo that Howard Schultz will step down as executive chairman of Starbucks on June 26th. Schultz has been with the coffee chain since he joined as director of operations and marketing in 1982. Former JC Penney CEO Myron E. Ullman was named to replace Schultz.
Starbucks started as a single coffee shop in 1971 at Seattle's famed Pike Place Market. It now has more than 28-thousand locations around the world.
Photo: Getty Images