Starbucks CEO Howard Schultz announces plans to get into NFT business this year
Starbucks CEO Howard Schultz has announced plans to get into the non-fungible-token (NFT) business. Schultz was speaking in a town hall meeting on Monday aimed at Starbucks workers amid a massive union drive.
The company in a statement said that it is working on “digital innovation through NFTs and plans for continued evolution of partner benefits, with more detail expected in the weeks ahead.”
This development comes as Schultz’s returned as Starbucks chief executive officer, he spoke to a global audience of an estimated 15,000 partners (employees). It should be noted that he stepped into the role after Kevin Johnson ended a five-year run at the helm.
Meanwhile, one of the first steps Schultz is making is to suspend the company’s stock repurchase program, effective immediately, to invest in Starbucks partners and stores for long-term growth.
Source
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