Starbucks Corp (HKSE:04337)

HK$ 58 0 (0%) Market Cap: 865.31 Bil Enterprise Value: 1.04 Til PE Ratio: 29.66 PB Ratio: 0 GF Score: 92/100

Starbucks Corp Annual Shareholders Meeting Transcript

Mar 16, 2022 / 05:00PM GMT

Release Date Price: HK$58

Transcript

Mellody Hobson

Hi. I'm Mellody Hobson, Chairman of the Board of Starbucks, and I'm delighted to welcome you to our 2022 Annual Meeting. Today, on behalf of the Board of Directors, I'd like to discuss some leadership changes that will unfold in the coming weeks and months. Succession is always at the top of any Board's agenda. And the Board has been working to advance our planning since our CEO, Kevin Johnson, signaled to us early last year that he was starting to think about his future and possible retirement. After steering Starbucks through the difficult pandemic years, Kevin felt the waning of the global health crisis might be the appropriate bookend to his many years of service. That day has now come.

A working committee of the board was formed to oversee the search process aided by Russell Reynolds Associates. The process is ongoing and yielding a strong slate of potential candidates, and we anticipate having the seat filled by fall. As we take the time needed to select the right future leader, the Board has asked Starbucks founder, Howard Schultz, to return as interim CEO starting April 4. He will

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