Former Starbucks CEO Howard Schultz Opposes Elliott Management's Potential Settlement

Friday, 26 July 2024, 20:57
Howard Schultz, the former CEO and sixth largest shareholder of Starbucks, has voiced his opposition to a potential settlement with Elliott Management, as reported by the Financial Times. Schultz holds a significant stake worth $2.03 billion in the company and has communicated his concerns to the board. Elliott Management, which has a notable investment in Starbucks, is actively seeking strategies to enhance the coffee chain's stock performance, yet Starbucks, Schultz, and Elliott have not commented publicly.
Yahoo Finance
Former Starbucks CEO Howard Schultz Opposes Elliott Management's Potential Settlement

Overview of Schultz's Stance on Elliott Settlement

Howard Schultz, the former CEO of Starbucks, has raised concerns regarding a potential settlement with Elliott Management. Holding the position of the sixth largest shareholder with a stake valued at $2.03 billion, his opposition is noteworthy in the ongoing discussions.

Elliott's Investment in Starbucks

Elliott Management has built a considerable position in Starbucks and has been exploring various avenues to boost the company's stock performance. According to sources, the discussions among board members revolve around improving profitability and long-term strategies.

Company Response

Despite the controversy surrounding the settlement, Starbucks has opted not to comment on the matter. Neither Schultz nor Elliott provided immediate responses to media inquiries.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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