Starbucks shareholders to vote on proposals for labor probe, succession planning

investors will vote Thursday on whether the coffee giant is respecting its workers' rights and if its board is doing enough to plan for executive transitions., who took the reins from Howard Schultz on Monday, nearly two weeks earlier than expected. Narasimhan's ascension comes at a time when Starbucks is facing scrutiny from all angles.is slated to grill Schultz in front of a U.S. Senate panel about the company's alleged union busting.

Members of a recently formed union of Starbucks workers hold a rally to celebrate the first anniversary of their founding, December 9, 2022 in New York City.Starbucks is telling its investors to vote against the proposal but said it would have its own independent probe. "My feeling is that once a shareholder proposal hits 30%, the proposal has effectively won at that point," said Kron, adding that management can't ignore a third of its investors.

It follows last year's rocky succession, when former CEO Kevin Johnson shocked investors by stepping down. Johnson said he told the board about a year earlier that he wanted to retire, but he left the company before a long-term successor was picked. Instead, Schultz returned for a third stint at the helm as interim CEO.

Source: News Formal (newsformal.com)

Exciting times ahead as Laxman Narasimhan takes the helm at Starbucks! It's great to see workers' rights and succession planning taking center stage at the first shareholder meeting. Ensuring employee well-being and fostering sustainable growth is key to any successful business.

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