Elliott's 'constructive' Starbucks engagement complicated by Howard Schultz's looming presence
Publishing timestamp: 2024-08-01 12:00:01
Summary
Activist investor Elliott Management has offered a settlement to Starbucks that would allow CEO Laxman Narasimhan to keep his position. However, former CEO Howard Schultz, who remains a top shareholder, has expressed opposition to the offer. The negotiations are complicated by Schultz's contractual privileges and lingering cultural influence at the company. Elliott Management has not disclosed its stake in Starbucks or the specific governance improvements it is seeking.
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Keywords: business, starbucks corp, technology, southwest airlines co, howard schultz, laxman narasimhan, breaking news, restaurants, business news, breaking news: technology, reckitt benckiser group plc,