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Howard Schultz, Starbucks' (SBUX) executive chairman, has denied that he is going to place a bid for the presidency in 2020, but it sure sounds like he will.

"Regardless whether you voted for the current president or not, people are going to be left out," Schultz said on Wednesday, at a conference held at The Economic Club of New York. "Business leaders are going to have to do a lot more for their people going forward."

He denied that Starbucks works as a "political arm" for his own views, but that the company has taken stances on issues like race and gun violence because it has a "social responsibility." Schultz touted Starbucks for offering all of its employees healthcare coverage "30 years before the Affordable Care Act."

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"This is the conscious and sole of our company," Schultz said.

Wednesday's conference was moderated by former Macy's (M) CEO Terry Lundgren, who was succeeded by Jeff Gennette in April.

Schultz was the CEO of Starbucks from 1987 to 2000 and again from 2008 until his departure, also in April. He was replaced by Kevin Johnson, the company's former president and COO.

Jim Cramer and the AAP team hold a position in Starbucks for their Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SBUX? Learn more now.

READ MORE: This Is What Starbucks' Howard Schultz Would Like All 2017 College Graduates to Do