Starbucks CEO steps down to focus on high-end coffee, shares dip

Starbucks signaled the change in July, saying that Schultz was moving away from day-to-day operations to focus on the development of high-end stores and long-term growth. Starbucks shares were down 3.9 percent at $56.25 in after-market trading on Thursday. Johnson is a former technology executive who became president and chief operating officer at Starbucks in March 2015.