Howard Schultz announced on Thursday that on April 3, he will step down as CEO of Starbucks after eight years in the role. Schultz, 63, will be succeeded by Kevin Johnson, the company’s current president and a longtime Starbucks board member. This is the second time that Schultz has stepped down as CEO, becoming company chairman in 2000 before taking the CEO role back in 2008 due to faltering sales. Schultz will remain with the company as the executive chairman and build up Starbucks' new approach to premium coffee bars and emporiums.