Press release
Starbucks Announces Intention to Establish a New Environmental, Partner and Community Impact Board Committee Focused on Oversight of Stakeholder Promises
SEATTLE--(BUSINESS WIRE)-- Starbucks Coffee Company (NASDAQ: SBUX) today announced its Board of Directors intends to establish a new Environmental, Partner
About this update from Starbucks Corporation
[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nStarbucks Coffee Company (NASDAQ: SBUX) today announced its Board of Directors intends to establish a new Environmental, Partner and Community Impact (EPCI) Board Committee, as a continued evolution of the overall governance approach to the company.\n\n\nStarbucks has always striven to be a different kind of company. Upon assuming the role of chief executive officer in March 2023, Laxman Narasimhan and the executive leadership team worked together with partners (employees) to refound Starbucks with an evolved mission and a set of six promises to the company’s most important stakeholders: at our best, for our partners, to offer a bridge to a better future; for our customers, to Uplift the Everyday; for our farmers, to ensure the future of coffee for all; for our communities, to contribute positively; for our environment, to give more than we take; and for our shareholders, to generate enduring returns.\n\n\n\"Over the past year, we have been singularly focused on ensuring that we are well positioned for mutual success with all of our stakeholders,” said Narasimhan, chief executive officer of Starbucks. “Living our new mission and upholding our new set of promises and values every day is paramount to achieving this mutual success. This committee will keep us accountable and push us forward.”\n\n\nIn recognition of the changing operating environment for the company, at its meeting last week, the Board of Directors aligned to the establishment of the EPCI Board Committee. The new committee will assist the Starbucks Board of Directors in fulfilling its oversight responsibilities required to respond to shifting regulations and standards, and drive accountability across Starbucks promises on environment, partners, and community impact. The committee will also have oversight of internal and external reporting tools and assessments, including the annual Global Environment and Social Impact Report (GESI) and initiatives to strengthen partner engagement and revitalize partner culture.\n\n\n“Starbucks has always set ambitious goals to deliver performance through the lens of humanity,” said Mellody Hobson, independent Starbucks Board of Directors chair. “Our new mission reflects the changing global environment and builds on our brand’s legacy of driving human connection and purpose. This new board committee is an...