07:55 AM EDT, 07/29/2024 (MT Newswires) -- Starbucks' ( SBUX ) sixth largest shareholder and former Chief Executive Howard Schultz is opposing a proposed settlement between the coffee giant and Elliott Investment Management, Financial Times reported, citing unnamed people familiar with the matter.

Schultz has reportedly voiced his disapproval to some board members.

Elliott has amassed a substantial minority stake in Starbucks ( SBUX ) and has been pushing for changes, including board representation, to improve the company's performance.

Starbucks ( SBUX ) did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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