However, the announcement triggered a negative reaction in the stock market, with Starbucks shares briefly dropping 12% but slightly recovering afterwards, reports Bloomberg. Disapproval from the side of investors can be explained by the bad memories of Schultz's previous resignation as a CEO between 2000 and 2008. During that long period, Starbucks had its worst sales performance since the company's IPO back in 1992. After all, investors' negative reaction to the announcement is not that surprising, considering the context.