Howard Schultz says he is ‘all in at Starbucks ... at this time’

CNBC nabbed the first interview with Starbucks CEO Howard Schultz and COO Kevin Johnson since Schultz announced he would step down in April, and be succeeded by Johnson.



Schultz’s decision to step down as CEO has renewed speculation that he plans to run for public office. Asked by CNBC if running for the “big office” in four years figured into his plans, Schultz said, “I'm all in at Starbucks, and that is my focus at this time.”



The Starbucks chief said he will be focused on developing the chain’s premium coffee business, which will include about 20 to 30 Roasteries around the globe, and also building out a new retail premium coffee format called Reserve.



“We now believe that we can take elements of the Roastery and bring it down to a different type of store — about 4,000 sq. ft., twice the size of a Starbucks store — and build Reserve stores in the same theme of Roasteries,” Schultz said. “We'll build out a new retail format of 1,000-plus stores of Reserve stores in this brand and then we're going to integrate [it] into existing Starbucks stores.”



While Schultz is taking on the title of executive chairman of Starbucks, he emphasized that, starting in April, Johnson is going to be the one managing the business, managing the team and setting the strategy. “There should be no misunderstanding whatsoever,” Schultz said. “And Kevin Johnson is well equipped to take the company to the next level.“



To read a complete transcript of the interview, click here.