I intend to think about a range of options, and that could include public service.
"I set out to build a company that my father, a blue-collar worker and World War II veteran, never had a chance to work for", said Schultz.
In his letter, Schultz also credited the company with "balancing profitability and social conscience, compassion and rigor, and love and responsibility".
Schultz is credited with expanding Starbucks from a Seattle-based coffee chain to an global conglomerate with over 28,000 stores.
Schultz, who has been outspoken on political and social issues, has long attracted speculation that he will run for office, potentially as a Democratic presidential candidate in 2020.
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Over the course of his career at Starbucks, the company grew from a handful of stores to an worldwide behemoth with 28,000 locations around the world.
A prominent critic of President Donald Trump, Schultz has always been rumored to have political aspirations.
Schultz added that he has for some time been "deeply concerned about our country - the growing division at home and our standing in the world".
In an interview with the New York Times, Mr Schultz did not rule out a run for president.
Starbucks also announced today that its Board of Directors has appointed Myron E. "Mike" Ullman as its new chair of the Board and Mellody Hobson as vice chair of the Board effective upon Schultz's retirement. "I'm not exactly sure what that means yet".
Most recently, he was involved in steering the company through an anti-bias training program that was kickstarted after a Philadelphia cafe manager's call to police resulted in the arrests of two black men who were waiting for a friend. MORE: Philadelphia Starbucks arrests - What a witness says happened Last week, the company closed its US stores for several hours for bias awareness training, one of the measures it promised after the men in Philadelphia were arrested as they waited for an associate but hadn't bought anything.