"His understanding of our culture and values, coupled with his expertise as a brand builder, innovation champion, and operational leader will be true differentiators as we position Starbucks for the next 50 years, generating value for all our stakeholders." In addition to mentoring Narasimhan during the transition period, Schultz will remain an ongoing advisor and continue his role on the board of directors. Both will work on a reinvention plan to innovate Starbucks' operations. This entails Starbucks store immersions, visiting manufacturing plants and coffee farms, connecting with partners, and more. "I am humbled to be joining this iconic company at such a pivotal time, as the reinvention and investments in the partner and customer experiences position us to meet the changing demands we face today and set us up for an even stronger future," said Narasimhan in a statement.