Howard Schultz is stepping down as Starbucks’ executive chair

Starbucks executive chair Howard Schultz just sent a memo to all of the company’s staff announcing his departure. The coffee veteran is leaving the company on June 26, according to CNBC.

Schultz is widely thought of as one of the main architects behind the beverage behemoth. He’s been at the company since 1982–he served as CEO from 1987 to 2000, and then again from 2008 until 2017. He stepped down as chief executive last year, giving the title to Kevin Johnson. During Schultz’s tenure, Starbucks grew to become the ubiquitous coffee chain we know it to be–with thousands of locations around the world. And now Shultz is finally leaving this other leading position. CNBC adds that he will serve as “chairman emeritus.”

What’s next for Schultz? In the memo he said he’ll be “thinking about a range of options for myself, from philanthropy to public service, but I’m a long way from knowing what the future holds.” Could it possibly mean a Schultz presidential run? I’m sure nothing will drum up nationwide political interest like the prospect of a coffee billionaire from Seattle running.