Howard Schultz, The Ceo Of Starbucks And Owner Of The Seattle Supersonics

1252 Words 6 Pages
Howard Schultz, who is the CEO of Starbucks and owner of the Seattle Supersonics, is our entrepreneur of interest. Howard Schultz grew up in the Brooklyn projects with his family and later went to Northern Michigan University on a football scholarship but decided not to play but instead pursued an academic degree. In 1975, Howard Schultz graduated with a BA in Communications and immediately went to work for Xerox Corp. in the sales and marketing division, which eventually led him to a coffee company named Starbucks, located in Seattle, Washington (Sun).
The originally Starbucks was founded in 1971, in Seattle’s historic Pike Place Market, by three owners Jerry Baldwin, Zev Siegl and Gordon Bowker; who later on hired Howard Schultz to be their director of sales in 1982 (Sun). During a trip to Italy, Howard Schultz saw the importance of how coffee played a role in the social life of most Italians. It was a focal point for the neighborhood, where friends met, mingled and lingered at all hours of the day. After returning to Seattle, Howard Schultz pitched his idea to Starbucks’ owners but they denied it. Convinced that his vision was something big, Schultz left Starbucks in 1986 to start his own espresso bar called iL Giornale (The Daily). A year later, with Schultz success, he bought out Baldwin and Bowker’s outlets and purchased the original Starbucks chain for $4 million with bank loans and wealthy investors such as Bill Gates and merged Schultz’s espresso bar iL Giornale…

Related Documents