Starbucks put some big names on the board
Having a board filled with contrasting, well-informed decision makers with expertise in a range of areas makes sure that a business makes the smartest, most strategic decisions possible. And, Starbucks have just put three well-known business figures on their board.
It has been a busy couple of years for the American coffee firm, as they have experienced huge growth in China, diversified their American market with things like roasteries and evening dining options.
Now, they are making changes to the top of the business, Starbucks has nominated three new names to their board: Rosalind Brewer, Jørgen Vin Knudstorp and Satya Nadella.
These are some heavyweight appointments, and so news of their nomination to the Starbucks board has raised a few eyebrows.
Brewer is the president and chief executive officer of Sam’s Club, an American members-only retail warehouse chain, and she will bring ‘extensive insight on large scale operations and supply chain logistics’. Knudstorp is executive chairman of the LEGO Brand Group and he will provide ‘global executive leadership from one of the world’s most renowned and recognisable brands’.
Nadella is the current CEO of Microsoft Corporation and will add ‘extensive experience and an understanding of how technology will be used and experienced around the world.’ It is the appointment of the 49-year-old Microsoft boss which has brought the most intrigue, with his technology expertise being considered a real coup for Starbucks in their plans to increase innovation going forwards.
It has been widely reported that these nominations have been produced by Starbucks in an attempt to increase the diversity on Starbucks’s board, while they continue to pursue their long-term plan for global growth and innovation.
Howard Schultz, chairman and chief executive of Starbucks, said: “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.
“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.”
Dominion holds Starbucks in its Global Trends Managed Fund.
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