Starbucks Corporation

Nestlé and Starbucks unveil new line-up of Starbucks at-home coffee in the U.S.

Nestlé and Starbucks today unveiled a new range of Starbucks coffee products that will be available in grocery stores in the U.S. starting February 2020. The new line-up includes Cold Brew concentrate, Fresh Brew coffee, as well as blends of Starbucks coffee with essential vitamins and golden turmeric – among others. These new innovations strengthen Starbucks at-home coffee offering, providing consumers new ways to enjoy Starbucks products in the comfort of their home. These products build upon the portfolio of innovation of the global coffee alliance, formed in August 2018 to create a revolutionary coffee experience for consumers. In 2019, Nestlé launched four coffee platforms worldwide under the Starbucks brand, including Starbucks Creamers in the U.S.

United States of America · 13 Jan 2020

Howard Schultz, architect of modern Starbucks, to step down as executive chairman

Howard Schultz is stepping down from his role as executive chairman of Starbucks, effective June 26, according to a memo sent to employees Monday. Schultz is seen as the architect of the modern Starbucks, having overseen its expansion from a single coffee shop that opened in Seattle's Pike Place Market in 1971. He joined Starbucks in 1982 as director of operations and marketing. Over time he grew it into the iconic brand it is today, with more than 28,000 locations globally. Schultz's latest leadership transition sparked speculation about his potential political plans: He has been a supporter of former President Barack Obama and Hillary Clinton during her bid for president. Some have already questioned whether he would pursue his own presidential run. "I'll be thinking about a range of options for myself, from philanthropy to public service, but I'm a long way from knowing what the future holds," Schultz said in the memo. Myron E. Ullman, former chairman and CEO of J.C. Penney, was named chair, while Mellody Hobson, president and director of Chicago-based investment management firm Ariel Investments, will be named vice chair. Schultz, who now will become its chairman emeritus, served as the company's chief executive from 1987 to 2000, stepping down to focus on the company's global strategy. He remained on as chairman of the board. At that time, there were only 350 cafes located outside of the U.S. From 2000 to 2008, Starbucks rapidly expanded from 3,500 to about 16,000 locations, but for Schultz, the quality of the brand and its coffee had deteriorated. He returned to the head position in 2008 to revitalize it. Again in 2017, Schultz stepped down, handing the keys over to current CEO Kevin Johnson. Once more, he picked up the mantle of executive chairman of the brand, this time focusing on Starbucks' Roastery and Reserve Bar expansion. "I set out to build a company that my father, a blue-collar worker and World War II veteran, never had a chance to work for. Together we've done that, and so much more, by balancing profitability and social conscience, compassion and rigor, and love and responsibility," he said. Schultz laid the groundwork for Starbucks' extensive employee benefits including, health care, stock ownership and free college tuition. As CEO, Schultz also lead global hiring initiatives for veterans and military spouses as well as refugees. He is currently writing a book about his social work and his efforts "to redefine the role and responsibility of a public company in an ever-changing society." "Howard Schultz has been a pioneer in setting and maintaining a culture of social responsibility — both environmentally and socially — while being able to maintain financial performance," Tim Hubbard, assistant professor of management at the University of Notre Dame's Mendoza College of Business, told CNBC via email. "He has served as an example to other executives who work towards socially responsible firms, and as an example to board members who frequently cite his behavior as models for executives." Under Schultz's leadership, the company's stock has grown 21,000 percent since its initial public offering in 1992. He currently owns 37.8 million shares of Starbucks, or a 3 percent stake, worth about $2.17 billion. Schultz's leaves at time when the company is struggling to revitalize same-store sales in the U.S., a trend that has contributed to a nearly 12 percent decline in its stock over the past year. Shares of the company were down nearly 1 percent in after hours trading on Monday. The coffee chain's image also took a hit recently after two black men were arrested in one of its cafes in Philadelphia after asking to use the restroom. The company responded swiftly, and closed last week to provide anti-bias training to 175,000 employees. Schultz has always been a big proponent of Starbucks as a "third place," a space for the community to gather. "We will learn from our mistakes and reaffirm our commitment to creating a safe and welcoming environment for every customer," Schultz said after the incident. —CNBC's Andrew Ross Sorkin contributed to this report.

United States of America · 2 Jun 2018

Starbucks Corporation (SBUX) Refuses To Take the Buck on Israel

Yesterday, Starbucks Corporation (NASDAQ:SBUX) reiterated its four-year stand that not only does the organization nor its Jewish CEO, Howard Schultz, are interested in channeling funds to Israel or even support its army. As per the official statement released by the company – Mention coffee and the first name that comes to mind is that of one of the stores operated by Starbucks Corporation (NASDAQ:SBUX). Over the years, this brand has come to be regarded as being synonymous with the beverage courtesy of its prominent presence, thus justifying its leadership on the global platform. One of the few countries in the world which remains bereft of this contagious aroma is Israel, as its spokesperson so vehemently claims. In a question-answer session, the company described its absence in Israel as fall-out of a partnership having fallen apart in 2003 after which another attempt has never been made. That said, it emphasizes on the fact that its actions are non-political in nature and have nothing to do with its overwhelming presence in other countries in the region. With its partnership with Alshaya Group, Kuwait, touching 15 years, Starbucks Corporation (NASDAQ:SBUX) operates 600 outfits in this region via the franchisee while Alshaya itself is the owner of 2600 retail outlets in the region. Considering that all these stores have made a significant contribution towards its total revenue figure of $4.2 billion and generated a net income of $513 million in the first half of 2014, the organization is keen not to upset the balance. It is but natural that Starbucks Corporation (NASDAQ:SBUX) is keen to crush rumors that have gained momentum in recent times because of the movement that advocates boycotting of Israeli products as also companies that are suspected of funding its army. This article has been written by Vinita Basu and edited by Serkan Ünal. Click here for the latest news about Amazon.com, Inc. (AMZN) and Hachette War of Words Seeks Mass Involvement. Wealthiest Photographers in the World Most Visited Museums in the United States

Israel · 10 Aug 2014