Starbucks board member James G. Shennan, Jr. to retire following 27
years of service; company expands its board of world-class, values-based
leaders, attracting diversity in global technology, retail and consumer
experience as it pursues its long-term plan for strong global growth and
innovation
SEATTLE--(BUSINESS WIRE)--
Starbucks Corporation (NASDAQ: SBUX) announced today the nominations of
Rosalind Brewer, President and Chief Executive Officer of Sam’s Club,
and executive vice president of Wal-Mart Stores, Inc.; Jørgen Vig
Knudstorp, Executive Chairman of the LEGO Brand Group; and Satya
Nadella, CEO of Microsoft Corporation, to the Starbucks Board of
Directors. Each are nominated for election to the Board at the company’s
Annual Meeting of Shareholders on March 22, 2017, along with the
nomination of the company’s current directors other than Mr. Shennan who
is retiring from the Board immediately prior to the meeting.
“For 45 years, the success of the Starbucks brand has been built upon
the preservation of the trust, confidence and connection we have with
our customers and partners,” said Howard Schultz, Starbucks chairman and
ceo. “Innovation and pushing to alter the status quo are also core to
our culture, and by welcoming three world-class, values-based leaders
– Roz, Jørgen and Satya – to Starbucks Board of Directors upon their
election at the Annual Meeting, we will strengthen our leadership and
add unmatched expertise in technology, strategy, and retail to
the company at a time of unprecedented change for our industry. I look
forward to welcoming each of these leaders to Starbucks Board of
Directors.”
Rosalind Brewer
Rosalind Brewer will bring to the Board extensive insight on large-scale
operations and supply chain logistics based on her senior leadership
positions with Sam’s Club and Walmart, as well as valuable experience in
consumer products and distribution. Brewer will also provide vast
experience in product development, product management, leadership,
digital technology and innovation, and international operations and
distribution. Brewer has served as President and Chief Executive Officer
of Sam’s Club, a division of Walmart, since February 2012. Walmart
recently announced her retirement from the company effective February 1,
2017. She currently serves on the Board of Directors for Lockheed Martin
Corporation and is Chair of the Board of Trustees for Spelman College,
and formerly served as a director of Molson Coors Brewing Company.
“For many years, I’ve looked to Starbucks as a leader in how companies
should stay ahead of innovation, build trust and loyalty with customers
and deeply engage in local and global communities. As an avid customer,
I am delighted every day to see just how much this company focuses on
honing its craft. It will be an honor to put my many years of retail and
customer engagement to work on behalf of the brand, and to serve
alongside such a talented group in doing so,” said Brewer.
Jørgen Vig Knudstorp
To the Starbucks Board of Directors, Jørgen Vig Knudstorp will provide
global executive leadership experience from one of the world’s most
renowned toy manufacturers and recognizable brands. He will also bring a
proven record of innovation and unique insight of brand and digital
marketing, strategy, consumer products, and international operations and
distribution to the Board. Knudstorp has served as Executive Chairman of
the LEGO Brand Group, the controlling company to the LEGO Group since
January 2017. From October 2004 to December 2016, he served as President
and Chief Executive Officer of the LEGO Group.
“I find Starbucks truly fascinating and inspiring because of its high
quality products and customer experiences, the authenticity of the
brand, the company’s caring approach to consumers and employees and not
least the ambitious responsibility agenda,” said Knudstorp. “Starbucks
was founded on a simple, essential idea and now the company has grown in
to becoming a very strong, innovative brand with the potential to expand
its global presence further. I am very excited to have been nominated to
join the Board and to contribute to the continued development of this
fantastic company.”
Satya Nadella
Satya Nadella will bring to the Starbucks Board extensive experience and
an understanding of how technology will be used and experienced around
the world. He will provide the Board with invaluable insight in
international operations and distribution as Starbucks continues to
focus on innovative ways to use technology to elevate the brand and grow
its business. Nadella has served as Chief Executive Officer and a member
of the Board of Directors of Microsoft Corporation, a leading
productivity and platform company, since February 2014. He has held
various leadership positions at Microsoft since joining the company in
1992. Nadella currently serves on the Fred Hutchinson Cancer Research
Center board of trustees.
“I’m honored to have been nominated to join the Board of this
world-renowned company,” said Nadella. “As a regular customer myself,
I’ve always admired Starbucks focus and deep passion for its customers
and the communities it does business in and hope my years of experience
in the technology industry will be of value to the company.”
James G. Shennan, Jr.
Additionally, James (Jamie) Shennan, a Starbucks director since March
1990, will retire from the Board effective immediately prior to the
shareholder meeting in accordance with the company’s Corporate
Governance Principles and Practices’ mandatory retirement age
requirements.
“For nearly three decades Jamie has been instrumental in the building of
the Starbucks brand, our go-to-market strategy, and the globalization of
our operations,” said Schultz. “He has fully appreciated the Starbucks
culture and our mission from our earliest of days, and has made
significant contributions in the evolution of our business. I’m
eternally grateful to Jamie for his knowledge and counsel to me,
personally, and to the Starbucks Board of Directors over the years.”
If all nominees are elected by our shareholders at the Annual Meeting,
the Board will have 14 members, including:
-
Howard Schultz, chairman and chief executive officer, Starbucks
-
William W. Bradley, managing director, Allen & Company LLC
-
Rosalind Brewer, president and ceo, Sam’s Club, and executive vice
president of Wal-Mart Stores, Inc.
-
Mary N. Dillon, chief executive officer, Ulta Salon, Cosmetics &
Fragrances, Inc.
-
Robert M. Gates, former Secretary of Defense
-
Mellody Hobson, president and director, Ariel Investments, LLC
-
Kevin R. Johnson, president, chief operating officer, Starbucks
-
Jørgen Vig Knudstorp, executive chairman, LEGO Brand Group
-
Satya Nadella, chief executive officer, Microsoft
-
Joshua Cooper Ramo, co-ceo and vice chairman, Kissinger Associates
-
Clara Shih, chief executive officer, Hearsay Systems, Inc.
-
Javier G. Teruel, retired vice chairman, Colgate-Palmolive Company
-
Myron E. Ullman, III, retired executive chairman and ceo, J.C. Penney
Company, Inc.
-
Craig E. Weatherup, retired chief executive officer, Pepsi-Cola Company
Forward-Looking Statements
Certain statements contained herein are “forward-looking statements”
within the meaning of the applicable securities laws and regulations.
Generally, these statements can be identified by the use of words such
as “anticipate,” “expect,” “believe,” “could,” “estimate,” “feel,”
“forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,”
“will,” “would,” and similar expressions intended to identify
forward-looking statements, although not all forward-looking statements
contain these identifying words. These statements are based upon
information available to Starbucks as of the date hereof, and Starbucks
actual results or performance could differ materially from those stated
or implied due to risks and uncertainties associated with its business.
These risks and uncertainties include, but are not limited to,
fluctuations in U.S. and international economies and currencies, our
ability to preserve, grow and leverage our brands, potential negative
effects of incidents involving food or beverage-borne illnesses,
tampering, contamination or mislabeling, potential negative effects of
material breaches of our information technology systems to the extent we
experience a material breach, material failures of our information
technology systems, costs associated with, and the successful execution
of, the company’s initiatives and plans, the acceptance of the company’s
products by our customers, the impact of competition, coffee, dairy and
other raw materials prices and availability, the effect of legal
proceedings, and other risks detailed in the company filings with the
Securities and Exchange Commission, including the “Risk Factors” section
of the Starbucks Annual Report on Form 10-K for the fiscal year ended
October 2, 2016. The company assumes no obligation to update any of
these forward-looking statements.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to ethically
sourcing and roasting high-quality arabica coffee. Today, with
stores around the globe, the company is the premier roaster and retailer
of specialty coffee in the world. Through our unwavering commitment to
excellence and our guiding principles, we bring the unique Starbucks
Experience to life for every customer through every cup. To share in
the experience, please visit us in our stores or online at http://news.starbucks.com or www.starbucks.com.
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Source: Starbucks Corporation