SOC sends letter to Starbucks holders calling for new approach to labor issues

The Strategic Organizing Center, a shareholder of Starbucks, sent a letter to its fellow shareholders outlining why enhanced oversight and proven human capital management expertise is needed on Starbucks’ Board of Directors. “As a shareholder of Starbucks and as an ally to Starbucks employees – many of whom are also shareholders through the Company’s share ownership program – the Strategic Organizing Center (the “SOC”) is seeking to bring urgently needed change to Starbucks’ boardroom,” the company said. “We believe the current Board has tolerated an unacceptable level of reputational risk, a counterproductive approach to labor issues and a flawed allocation of resources. For these reasons – and to protect shareholder value – we have nominated three director candidates (the “SOC Nominees”), who are ideally suited to help repair the relationship with the Company’s workers and regulators while safeguarding the best interests of all Starbucks’ stakeholders. You can support this change and be part of ensuring Starbucks returns to the right path for the future. We urge you to use the enclosed BLUE proxy card to vote “FOR” each of the SOC Nominees today. You can also vote for the SOC Nominees on the Company’s White proxy card. We strongly believe that voting for the SOC Nominees will help ensure the status quo does not continue, and that shareholder value does not suffer in the same way the Company’s reputation has.”