{"id":87724,"date":"2023-11-22T21:19:15","date_gmt":"2023-11-23T02:19:15","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/a-starbucks-board-fight-could-be-ahead-as-union-coalition-nominates-directors\/"},"modified":"2023-11-22T21:19:16","modified_gmt":"2023-11-23T02:19:16","slug":"a-starbucks-board-fight-could-be-ahead-as-union-coalition-nominates-directors","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=87724","title":{"rendered":"A Starbucks Board Fight Could Be Ahead as Union Coalition Nominates Directors"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000807474\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>A coalition of unions has nominated three directors for<br \/>\n        Starbucks<br \/>\n      \u2018 board, as the coffee chain remains under pressure to improve workers\u2019 pay and conditions.<\/p>\n<p>In a Securities and Exchange Commission filing<strong>\u00a0<\/strong>Wednesday, the Strategic Organizing Center named three candidates for election to the<br \/>\n        Starbucks<br \/>\n       (ticker: SBUX) board of directors at its 2024 annual shareholders meeting. <\/p>\n<div class=\"paywall\">\n<p>The Strategic Organizing Center is a coalition of unions representing over 2 million members\u2014including the Service Employees International Union, which represents members of Starbucks Workers United. The Strategic Organizing Center says change is needed at the board level to help Starbucks manage the demands coming from the union, as opposed to fighting with union members.<\/p>\n<p>\u201cRegardless of one\u2019s personal views on whether Starbucks should support or continue to resist the unionization of its store employees, the Board\u2019s current approach likely jeopardizes its ability to fulfill its fiduciary duties to investors and has resulted in arguably one of the most glaring and destructive examples of human capital mismanagement corporate America has seen,\u201d the labor group said in the filing. <\/p>\n<p>The group didn\u2019t immediately provide additional comments,  including the size of its Starbucks investment, to <em>Barron\u2019s<\/em> Wednesday. <\/p>\n<p>Starbucks pointed <em>Barron\u2019s <\/em>to its own comments in response to the board nominations. In a news release dated Tuesday, Starbucks said it has invested nearly $9 billion over the past three years to improve the experience of its workers\u2014which it calls \u201cpartners\u201d\u2014and the overall store experience\u2014\u201dwith more than one third of that investment going directly to the partners through wage increases, training, new innovative equipment and technology.\u201d <\/p>\n<p>\u201cCoupled with higher wages and the expansion of hours, these investments have not only resulted in lower turnover\u2014which is now below prepandemic levels\u2014but we have also increased hourly total cash compensation by nearly 50% since fiscal year 2020,\u201d Starbucks said.<\/p>\n<p>The cafe chain has been facing strikes and walkouts from union members in recent months. Workers are demanding higher pay, more affordable healthcare, and better staffing conditions. The company is also facing allegations of unfair labor practices from regional offices of the National Labor Relations Board, the federal agency that oversees worker rights to organize. Starbucks has previously said those charges lack merit or are unfounded.<\/p>\n<p>The Strategic Organizing Center\u2019s nominees include Maria Echaveste, a former senior White House official and corporate attorney; Joshua Gotbaum, an expert in corporate governance and change; and Wilma Liebman, an expert in labor management, employee relations, wage negotiations, public policy and law.<\/p>\n<p>Shares of Starbucks were rising 0.2% Wednesday to $103.93. The stock has gained 4.8% this year.<\/p>\n<p>Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/starbucks-stock-price-board-directors-04d9f4ac?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A coalition of unions has nominated three directors for Starbucks \u2018 board, as the coffee chain remains under pressure to improve workers\u2019 pay and conditions. In a Securities and Exchange Commission filing\u00a0Wednesday, the Strategic Organizing Center named three candidates for election to the Starbucks (ticker: SBUX) board of directors at its 2024 annual shareholders meeting. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":87725,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-87724","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A Starbucks Board Fight Could Be Ahead as Union Coalition Nominates Directors | iFintechWorld<\/title>\n<meta name=\"description\" content=\"A coalition of unions has nominated three directors for Starbucks \u2018 board, as the coffee chain remains under pressure to improve workers\u2019 pay and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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