If there’s one mistake Howard Schultz is determined not to repeat, at least not any time soon, it’s this: retirement.

Starbucks’s seemingly tireless chief executive stepped away in 2000 (he took the chairman position), only to watch his company’s financial results begin to evaporate, as rapid expansion, a misguided foray into food – not to mention the economic downturn – took their toll.

Starbucks is enjoying record operating results again, despite a $2.8-billion (U.S.) penalty imposed on it this week after it lost a grocery distribution battle with Kraft.

Now 60, at a time when other CEOs might think about handing over the reins, Mr. Schultz says he’s more in need of a caffeine fix than ever. There are no talks of succession and neither of his two children are involved in the busines

Everyone needs to retire at a certain age in order to enjoy the rest of his life. However, the CEO of Starbucks does not do so because none of his children are involved in business, so he is worried and how do not know who to pass his business to the next generation.

Source: http://www.theglobeandmail.com/report-on-business/careers/careers-leadership/for-starbuckss-howard-schultz-a-sip-of-retirement-was-more-than-enough/article15472477/