Schultz back as Starbucks CEO

SEATTLE, Jan. 7 (UPI) -- Starbucks, the coffeehouse giant based in Seattle, announced Monday Chairman Howard Schultz will take over as chief executive as well, replacing Jim Donald.

Schultz, who oversaw the company's growth from a small Seattle bean seller into the world's largest coffee chain, planned to slow the number of new stores opened, close struggling locations and improve the customer experience inside stores in the United States while streamlining management and accelerating Starbucks' expansion overseas, the company said in a news release.

"Given what the board believes needs to be done, there is no better person to drive change and ensure that Starbucks is positioned to innovate, execute and relentlessly focus the entire organization on the customer," said Craig Weatherup, chairman of the Starbucks board's nominating and corporate governance committee.

Schultz, Starbucks CEO from 1987 to 2000, said he was excited to lead the company and its employees to "even greater heights of achievement on a global basis. Put simply, we are recommitting ourselves to what has made Starbucks and the Starbucks experience so unique."

Donald was leaving Starbucks, the company said. The Seattle Times said he was fired.