Activist investor Elliott Management proposed a settlement with Starbucks that would involve board expansion and governance improvements, but would allow CEO Laxman Narasimhan to keep his job, people familiar with the matter told CNBC’s Rohan Goswami. Elliott submitted its offer to Starbucks weeks ago, days before reports surfaced that the firm had amassed a significant stake, but the coffee company’s board hasn’t responded, the sources added.
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