Strategic Organizing Center Issues Statement on Starbucks
Believes agreement on path forward reached by
Withdrawing director nominees to allow the Company to focus on upholding its new commitments to workers and enhancing value for shareholders
The SOC launched our campaign for change at
Last Tuesday,
Since the announcements, we have had meaningful dialogue with a number of other shareholders. Based on these discussions, we believe that by and large shareholders are optimistic the Company has committed to these changes in good faith and intends to begin to repair its relationship with its workers, which will ultimately enhance performance and shareholder value. We also believe Starbucks’ establishment of its
While we continue to believe that our three exceptionally qualified nominees –
We think it’s imperative that shareholders continue to monitor the Board’s performance and Starbucks’ approach to labor relations issues in the coming months – and we plan to continue to hold the Company accountable going forward.
We would like to thank our nominees, the shareholders we engaged with, and everyone involved with our campaign. We are truly hopeful that the commitments made and steps taken last week will result in
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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 ABOUT THE BLUE PROXY CARD
Blue proxy cards that have been properly signed and returned to the SOC or its agents will be voted as directed, except that any votes for the SOC’s nominees on such cards will be disregarded and will not be voted at the Annual Meeting. Relatedly, any votes marked for the Company’s nominees on the blue proxy card will be voted as directed at the Annual Meeting.
1 The New York Times:
2
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Investor Contact
info@okapipartners.com
Media Contacts
soc-sbux@longacresquare.com
Source: The Strategic Organizing Center