Former Starbucks CEO Howard Schultz Says He Won't Run for President - NECN
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Former Starbucks CEO Howard Schultz Says He Won't Run for President

"I have concluded that an independent campaign for the White House is not how I can best serve our country at this time,” Schultz wrote.

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    Former Starbucks CEO Howard Schultz Says He Won't Run for President
    Owen Hoffmann/Patrick McMullan via Getty Images, File
    Howard Schultz attends BCNY Annual Luncheon at 583 Park Avenue on April 3, 2019 in New York City.

    Former Starbucks CEO Howard Schultz will not run for president after exploring whether to do so earlier this year, he announced in a letter posted online early Friday.

    “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,” Schultz wrote.

    Back in January, the 66-year-old billionaire said he was considering running for president on an independent ticket and hoped to appeal to moderate voters. In June, Schultz cut travel plans to meet with voters short after undergoing back surgeries, postponing his decision to start up an official campaign until after Labor Day. 

    In his Friday letter, Schultz decried an increasingly polarized two-party system that he said is out of touch with most Americans and has "extreme voices" dominating the "national dialogue." 

    Who’s Running for President in 2020?

    The race for the 2020 presidential election is underway, and the field of Democratic candidates is packed. Those who have announced presidential bids include a vice president, senators, House members and three mayors. As for the GOP, a single Republican has announced his bid to challenge President Donald Trump for the party nomination: former Massachusetts Gov. Bill Weld, who ran for vice president (and lost) in 2016 on the Libertarian party ticket.

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    Updated July 29, 2019
    Note: Incorrect information about Michael Bennet’s cancer diagnosis and titles for Joe Sestak and William Weld have been revised on July 29, 2019, 3:17 p.m. ET.
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    "I will spend this election cycle and the years ahead supporting bold and creative initiatives to transform our broken system and address the disparity of opportunity that plagues our nation," he wrote. 

    A potential Schultz bid had raised fears among Democrats that he could be a spoiler in the general election, leading to President Donald Trump's reelection.