Starbucks Corp. executive chairman Howard Schultz is stepping away from the coffee chain he built into a global powerhouse, putting management firmly into the hands of chief executive Kevin Johnson, who had an office connected to the co-founder's and regularly turned to Schultz in times of crisis.
Johnson faces a raft of challenges on the horizon. He is facing cooler growth in Starbucks' dominant US market and intense competition from rivals - ranging from high-end coffee shops to more affordable fast-food chains - as the company undertakes a massive expansion project in China.
