NEW YORK (Reuters) – Starbucks Corp (NASDAQ:)’s longtime former chief government Howard Schultz introduced on Monday the suspension of the corporate’s inventory repurchasing program, as he returns this week to guide the worldwide espresso chain for the third time.

The suspension, efficient instantly, will enable Starbucks to speculate extra within the firm’s folks and its shops, Schultz mentioned in a letter to Starbucks stakeholders.

The transfer comes as the corporate faces realities together with pinched provide chains, results from the coronavirus pandemic and heightened tensions and political unrest, Schultz added.

Starbucks is dealing with a rising unionization of its U.S. workforce. Workers at 10 U.S. Starbucks areas have voted in current months to hitch Staff United, an affiliate of the Service Workers Worldwide Union.

Baristas at greater than 170 U.S. areas have petitioned a federal labor board for union elections since August, when the union drive went public.

Starbucks introduced final month that Schultz would take over as interim CEO, following the retirement of Kevin Johnson. Shares of the espresso chain shot up about 5% on March 16, the day of the announcement.

Schultz is virtually synonymous with the corporate he took over in 1987. Throughout his earlier 4 a long time as chief government and chairman, the corporate grew from 11 shops to greater than 28,000 in 77 markets worldwide, in line with a information launch.

Together with suspending the share repurchasing program, Schultz will journey within the weeks forward to attach with workers in shops and manufacturing crops, in addition to have interaction in design classes with workers, he mentioned within the letter.

“I’m returning to the corporate to work with all of you to design that subsequent Starbucks — an evolution of our firm deep with function, the place we every have company and the place we work collectively to create a optimistic impression on this planet,” he added.