"A group of Starbucks investors is escalating their pressure campaign over the coffee giant's ongoing labor turmoil - and this time, they're targeting the board. Ahead of the company's March 25 annual meeting, a coalition of long-term shareholders is urging investors to vote against the reelection of Jørgen Vig Knudstorp, the lead independent director, and Beth Ford, the chair of the nominating and corporate governance committee. The group citeswhat they call "sustained oversight failures of labor relations.""
"US baristas began unionizing in late 2021. More than four years - and four strikes, supported by politicians like Bernie Sanders and Zohran Mamdani - later, the company has not reached its first collective bargaining agreement. Starbucks Workers United says it represents more than 12,000 baristas at over 600 locations. After Starbucks shuttered hundreds of US stores in September, a Starbucks spokesperson said the union represents closer to 550, or less than 5%, of its company-owned stores."
A coalition of long-term Starbucks shareholders is asking investors to oppose reelection of lead independent director Jørgen Vig Knudstorp and nominating committee chair Beth Ford, citing sustained oversight failures of labor relations. The campaign is timed before the company's March 25 annual meeting. Starbucks defends its board and says management is driving a business turnaround. US baristas began unionizing in late 2021 and have staged multiple strikes without securing a first collective bargaining agreement. Starbucks Workers United claims over 12,000 represented workers; the company counters that union representation is closer to 550 stores and calls union wage demands unsustainable.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]