The move marks a return to daily management for Schultz, who is seen as the conscience of the company and warned executives a year ago that Starbucks was losing its way. Schultz, who was chief executive from 1987 to 2000, said Starbucks would close underperforming U.S. outlets and speed up international growth.
Investors have nearly halved the value of the world's biggest coffee chain to $13 billion in the last year in the midst of weakened U.S. sales growth.
"The most serious challenge we face is of our own doing," Schultz said on a conference call. "I am not going to use the economy, with you or our people, as an excuse."
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