Strategic Organizing Center Releases Investor Presentation Highlighting Why Board Change is Needed Now in Order to Brew a Better Starbucks
February 20 2024 - 8:20AM
Business Wire
Details why Starbucks’ flawed human capital
management strategy is the most critical issue facing the Company
today and how the Board’s failed oversight has cost shareholders,
employees and customers
Believes that the SOC’s nominees have expertise
that is lacking on the current Board and skillsets that are needed
urgently to help address the Company’s broken approach to labor
issues, rehabilitate its brand and maximize shareholder value
Visit www.BrewABetterStarbucks.com to view the
investor presentation
The Strategic Organizing Center (the “SOC”), a shareholder of
Starbucks Corporation (Nasdaq: SBUX) (“Starbucks” or the
“Company”), today announced the release of an investor presentation
detailing the urgent need for change at the Company. The
presentation – titled “Brew a Better Starbucks” – is available at
www.BrewABetterStarbucks.com.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240220437846/en/
The SOC stated: “Starbucks is an iconic company that has lost
its way. The current Board of Directors (the “Board”) has tolerated
an unacceptable level of reputational risk, endorsed a
counterproductive approach to labor issues and permitted a flawed
allocation of resources – all of which have negatively impacted
shareholder value. These problems are getting worse, not better. We
believe it is time for a change, which is why the SOC has nominated
three ideally qualified individuals, who bring diverse leadership
experience from within the business, government and non-profit
sectors, for election to the Starbucks Board. Most importantly,
these nominees possess expertise sorely lacking on the current
Board. We encourage shareholders to help send the message that it
is time to Brew a Better Starbucks by voting for our director
candidates today.”
The SOC Nominees are:
- Maria Echaveste, a former senior White House official,
senior Department of Labor appointee and corporate attorney with
significant international relations and public company board
experience.
- Hon. Joshua Gotbaum, who has been a director of both
public and private companies with decades of experience in
corporate governance and change, as well as significant public
policy and government experience.
- Hon. Wilma Liebman, who possesses over 40 years of
experience in labor management, employee relations, wage
negotiations, public policy and law – including having served as
the Chair of the National Labor Relations Board under President
Barack Obama.
For the SOC Nominees’ full biographies, see here.
Shareholders can be part of ensuring Starbucks returns to the
right path for the future by using the BLUE proxy card – to vote “FOR” each of
the SOC Nominees today. Shareholders can also vote for the SOC
Nominees on the Company’s White proxy card.
***
DISCLAIMER
This material does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described
herein in any state to any person. In addition, the discussions and
opinions in this press release and the material contained herein
are for general information only, and are not intended to provide
investment advice. All statements contained in this press release
that are not clearly historical in nature or that necessarily
depend on future events are “forward-looking statements,” which are
not guarantees of future performance or results, and the words
“will,” “anticipate,” “believe,” “expect,” “potential,” “could,”
“opportunity,” “estimate,” and similar expressions are generally
intended to identify forward-looking statements. Any projected
results and/or statements contained in this press release that are
not historical facts are based on current expectations, speak only
as of the date of this press release and involve risks that may
cause the actual results to be materially different. Certain
information included in this press release is based on data
obtained from sources considered to be reliable. No representation
is made with respect to the accuracy or completeness of such data,
and any analyses provided to assist the recipient of this press
release in evaluating the matters described herein may be based on
subjective assessments and assumptions and may use one among
alternative methodologies that produce different results.
Accordingly, any analyses should also not be viewed as factual and
also should not be relied upon as an accurate prediction of future
results. Any figures are unaudited estimates and subject to
revision without notice. The SOC disclaims any obligation to update
the information herein and reserve the right to change any of their
opinions expressed herein at any time as they deem appropriate.
Past performance is not indicative of future results.
IMPORTANT INFORMATION
The SOC, the SEIU, Mary Kay Henry, Ahmer Qadeer, Michael Zucker,
Maria Echaveste, Joshua Gotbaum, and Wilma B. Liebman
(collectively, the “Participants”) filed a definitive proxy
statement and accompanying proxy card (the “Proxy Statement”) with
the SEC on January 25, 2024 to be used to solicit proxies in
connection with the 2024 annual meeting of shareholders (the
“Annual Meeting”) of Starbucks Corporation (the “Company”). All
shareholders of the Company are advised to read the Proxy Statement
and other documents related to the solicitation of proxies, each in
connection with the Annual Meeting, by the Participants, as they
contain important information, including additional information
related to the Participants, including a description of their
direct or indirect interests by security holdings or otherwise. The
Proxy Statement and an accompanying BLUE proxy card will be
furnished to some or all of the Company’s stockholders and is,
along with other relevant documents, available at no charge on the
SEC website at http://www.sec.gov.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240220437846/en/
Investor Okapi Partners Bruce Goldfarb / Pat McHugh,
(877) 285-5990 info@okapipartners.com
Media Longacre Square Partners
soc-sbux@longacresquare.com
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