financetom
Business
financetom
/
Business
/
Starbucks re-elects all 11 directors to board, rejects proposal to disclose human rights policies
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Starbucks re-elects all 11 directors to board, rejects proposal to disclose human rights policies
Mar 15, 2024 2:47 PM

March 15 (Reuters) - Starbucks ( SBUX ) shareholders

voted to re-elect all 11 directors to the company's board at its

annual general meeting on Friday and also rejected measures

asking the coffee chain to disclose details on human rights

policies and discrimination against "non-diverse" groups.

In the run-up to the company's 2024 AGM, a coalition of

labor unions called the Strategic Organizing Center (SOC)

launched a boardroom fight, nominating candidates for three

seats, in a push to make Starbucks ( SBUX ) reach an agreement with its

unionized baristas over pay, benefits and worker treatment.

However, in a surprise move just days before the

meeting, the SOC withdrew its three nominees to the 11-member

board, following a joint announcement from Starbucks ( SBUX ) and its

baristas' union that the parties have agreed to create a

"framework" on unionization and collective bargaining.

Another Starbucks ( SBUX ) shareholder, the National Legal and

Policy Center (NLPC), issued a proposal asking Starbucks ( SBUX ) to

publish a report on human rights policies and how it adheres to

those across its business, targeting the company's ambitious

growth plans in China in particular.

The NLPC questioned Starbucks' ( SBUX ) strategy to grow its

footprint in China in light of human rights controversies in the

region. The proposal, though rejected, won 1.5% of votes cast.

Investors also rejected a proposal asking the coffee

chain to disclose details on discrimination against

"non-diverse" people, claiming Starbucks' ( SBUX ) diversity and

inclusivity policies "alienate individuals who lack certain

diverse qualities."

The proposal came from the National Center for Public

Policy Research, a conservative Starbucks ( SBUX ) investor, which had

previously sued the company for setting hiring goals for people

of color and tying executive pay to diversity.

A proposal represented by animal rights group PETA

asking for disclosures on Starbucks' ( SBUX ) pricing of plant-based milk

was also rejected by shareholders.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Soho House Swings to Fiscal Q2 Profit, Revenue Increases
Soho House Swings to Fiscal Q2 Profit, Revenue Increases
Aug 8, 2025
07:52 AM EDT, 08/08/2025 (MT Newswires) -- Soho House ( SHCO ) on Friday swung to fiscal Q2 earnings of $0.13 per diluted share from a loss of $0.15 a year earlier. Analysts polled by FactSet expected a loss of $0.05. Revenue for the quarter ended June 29 was $329.8 million, up from $302.9 million a year earlier. Analysts surveyed...
Docebo Q2 Net Income Falls Despite Rise in Revenue; Expects Q3 Total Revenue Above Expectations
Docebo Q2 Net Income Falls Despite Rise in Revenue; Expects Q3 Total Revenue Above Expectations
Aug 8, 2025
07:54 AM EDT, 08/08/2025 (MT Newswires) -- Docebo ( DCBO ) , a learning platform provider, on Friday reported lower net income. but higher and better than expected adjusted earnings and revenues for the second quarter, while flagging a revenue beat in the third quarter too. The company reported net income of US$3.1 million for the three-months ended June 30,...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Capstone Copper Sanctions Mantoverde Optimized Project in Chile
Capstone Copper Sanctions Mantoverde Optimized Project in Chile
Aug 8, 2025
07:50 AM EDT, 08/08/2025 (MT Newswires) -- Capstone Copper ( CSCCF ) said Friday that it has sanctioned for construction the Mantoverde optimized project in Chile following board approvals. According to a statement, the project would expand the throughput of Mantoverde's sulfide concentrator to 45,000 ore tonnes per day (tpd) from 32,000 tpd in early 2027. The statement said this...
Copyright 2023-2026 - www.financetom.com All Rights Reserved