SEATTLE (dpa-AFX) - The Strategic Organizing Center, a shareholder of Starbucks and coalition of labor unions including the Service Employees International Union, said Tuesday that it has nominated three director candidates - Maria Echaveste, Joshua Gotbaum and Wilma Liebman - for election to the Starbucks Board of Directors at the upcoming 2024 Annual Meeting of Shareholders.
The Strategic Organizing Center or SOC alleged that the Board's current approach likely jeopardizes its ability to fulfill its fiduciary duties to investors and has resulted in arguably one of the most glaring and destructive examples of human capital mismanagement corporate America has seen.
Therefore, SOC believes change is needed at the Board level. Its nominees can bring fresh perspectives and the right expertise to help improve oversight and safeguard the best interests of Starbucks' shareholders, customers and employees.
In a separate press release, Starbucks confirmed that it has received a notice of nomination by Strategic Organizing Center Investment Group of three director candidates for election to the Starbucks Board of Directors at its 2024 Annual Meeting of Shareholders.
Starbucks said the Board's Nominating and Corporate Governance Committee will review SOC Investment Group's proposed director nominees and the Board will present its formal recommendation regarding director nominees in the Company's proxy statement and other materials to be filed with the Securities and Exchange Commission. Starbucks shareholders are not required to take any action at this time.
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