Former Starbucks CEO Howard Schultz to not run for President in 2020

Former Starbucks CEO Howard Schultz has said he will not be running for President in 2020.

Former Starbucks CEO Howard Schultz has said he will not be running for President in 2020, Axios reported saying that the announcement will be made later in the day.

The money that he was prepared to commit to a presidential campaign "will instead be used to invest in people, organizations and ideas that promote honesty, civility and results in our politics, and that move the country beyond two-party gridlock", according to a letter posted on his website.

"Common-sense policies and initiatives that can help address widening inequality at home, while strengthening America’s standing in the world, will be a priority. Among my early efforts will be to advocate for increased national service opportunities for young people," the letter further said.

Schultz said, "a back injury in April and three subsequent surgeries have required a level of recovery that has prevented me from continuing my travels and engaging with people to the degree that is necessary."

"My belief in the need to reform our two-party system has not wavered, but I have concluded that an independent campaign for the White House is not how I can best serve our country at this time."

In January 2019, Schultz acknowledged that he was exploring a run for president as an independent candidate in 2020. On January 27, he stated in an interview with 60 Minutes that he was exploring a run for president as an independent and that he considered running as a centrist.