Today, Starbucks hosted its 30th annual meeting of shareholders virtually. Mellody Hobson, Starbucks Board of Directors chair, joined Kevin Johnson, president and chief executive officer, for opening remarks following today’s news that Johnson made the personal decision to retire from Starbucks after 13 years of service.

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Following opening remarks, Johnson, joined by several members of the leadership team and green apron partners (employees) from around the world, went on to outline Starbucks continued investments and aspirations for people and the planet, and the company’s optimism for a future rooted in humanity, fueled by innovation, and architected by green apron partners.

Here are the important things to know about today’s Annual Meeting of Shareholders:

Starbucks announces leadership transition

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Earlier today, <a href="https://stories.starbucks.com/press/2022/starbucks-announces-leadership-transition/">Starbucks announced that Kevin Johnson intends to retire</a> after a 13-year tenure at the company, including the last five years as ceo. Johnson will transition from his current role effective April 4, 2022 and will continue to serve as a Starbucks partner and special consultant to the company and Board of Directors through September. To ensure seamless stewardship of the company until a permanent successor is named, the Board has appointed Howard Schultz as interim chief executive officer, effective April 4, 2022.

Building on the rich heritage of the company, Johnson established the People Positive, Planet Positive and Profit Positive framework that seeks to create a better world for Starbucks partners, farmers, customers and the communities it serves. He expanded the company’s reach through the Global Coffee Alliance with Nestlé, which now operates in nearly 80 markets, and established and executed the Growth at Scale agenda that significantly increased shareholder value.

Helping customers and partners divert waste from the landfill

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Starbucks has spent the last few years testing, learning, and preparing to scale initiatives that help protect the planet as the company looks to a resource positive future. With a focus on waste reduction, Starbucks announced customers will be able to use their own personal reusable cup for every Starbucks visit in the U.S. and Canada – including in-store, in the drive-thru and via mobile order and pay – by the end of 2023. This is a big deal because currently, personal reusable cups are only accepted in-store. By 2025, Starbucks wants to create a cultural movement towards reusables by giving customers easy access to either a personal or a Starbucks-provided reusable cup for every visit.

And because Starbucks knows that putting items in the correct bin has a huge impact on diverting waste from the landfill, the company has also launched a waste and recycling app, developed by partners to navigate the ins-and-outs of recycling guidelines for their local store. Across Starbucks stores in the United States and Canada, there are over 440 unique ways to recycle, and previous to the app’s launch, over 8,000 of our stores were already doing some form of recycling. Learn more <a href="https://stories.starbucks.com/stories/2022/starbucks-innovates-tests-and-learns-from-store-partners-to-achieve-waste-goals/">here</a>.

Recharge yourself and your car at Starbucks

Currently, Starbucks company-operated stores in the U.S. are powered with 100% renewable energy, and now we get to help power our customers cars with renewable energy. Beginning this summer, Volvo electric vehicle chargers, powered by ChargePoint, will be available at up to 15 Starbucks stores along a 1,350-mile route from the Colorado Rockies to the Starbucks Support Center (headquarters) in Seattle. We know infrastructure is the primary reason customers hesitate or decide not to purchase an electric vehicle. By providing charging infrastructure customers can count on, we are hoping to remove that barrier with the added benefit of being able to order your favorite Starbucks beverage while you wait.&nbsp;&nbsp;

Supporting communities around the world and being a People Positive company

Starbucks is committed to being People Positive – a bold aspiration to enhance the well-being of one billion people who connect with Starbucks by 2030 – rooted in opportunity, inclusion, and community. Starbucks, in partnership with The Starbucks Foundation, has committed to a series of announcements to support the People Positive aspiration and strengthen communities around the world, including:

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&nbsp;1,000 Starbucks Community Stores by 2030

As part of the company’s goal to enhance the well-being of all who connect with Starbucks the company plans to open or dedicate 1,000 Starbucks Community Stores by 2030, building on the 150 already open around the globe. These stores seek to uplift communities by offering locally relevant programs and experiences that directly impact the neighborhoods they serve. Starbucks community stores deliver economic opportunity through local hiring and artist collaborations, working with diverse contractors, and creating spaces for people to come together or support local veterans and military families.

A more inclusive and accessible Starbucks Experience

Announced <a href="https://stories.starbucks.com/press/2022/starbucks-paves-way-for-more-inclusive-and-accessible-experiences-in-stores-around-the-world/">earlier this week,</a> Starbucks has committed to implementing physical and digital experiences that meet an elevated standards of accessibility by 2030. These new standards will offer customers more ways to communicate (visually, audibly and tactically) and provide more tools to navigate physical store environments. To advance these standards, Starbucks is testing technology solutions in select store locations including speech-to-text technology that provides a visual display for partners and customers placing or picking up an order, as well as new in-store order boards that update customers when their order is ready.

These efforts build on other accessibility offerings, including free <a href="https://stories.starbucks.com/stories/2021/starbucks-offers-aira-creating-accessible-experience-for-blind-and-low-vision-customers/">Aira</a> service for blind or low-vision customers, large-print and Braille menus at all stores in the U.S. and Canada, and the 11 Signing Stores that Starbucks operates globally, where baristas can connect to customers who are deaf or hard of hearing through sign language.

Listening and learning to elevate the partner experience

Starbucks reaffirmed its commitment to listening, learning, and working with partners to deliver measurable value for partners, customers, and shareholders. Starbucks reiterated its incremental $1 billion investment in wage, training, and benefits to include:

Introducing: Starbucks Clover Vertica Brewer

Starbucks has spent more than 50 years on a journey to perfect coffee and Starbucks is continuing its mission to innovate around coffee equipment and brewing. Starbucks will continue raising the bar on coffee by introducing our new proprietary single cup, on-demand brewer, Clover Vertica™, which reimagines the brewed coffee experience for partners (baristas) and customers by delivering a single cup of freshly brewed coffee with exquisite, beautifully pronounced flavors - in less than 30 seconds. The Clover Vertica™ brewer started rolling out this calendar year.

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Here are the important things to know about today's Annual Meeting of Shareholders.

Top things to know about Starbucks 2022 shareholders meeting

Stories to inspire and nurture the human spirit

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As the world grapples with the vast scale and human impact of COVID-19, Starbucks ceo Kevin Johnson says Starbucks has the financial strength and resilience to manage through this extraordinary time, guided by the company’s Mission and Values

SEATTLE, WA – Starbucks Corporation will hold its 28th Annual Meeting of Shareholders today, virtually, with opening remarks from Kevin Johnson, president and chief executive officer.

As the company continues to monitor and navigate through the dynamic situation of COVID-19, Johnson will share an update on the company’s commitment to its long-term business growth strategy that is grounded in the care of its partners (employees) and customers. 

“As we are navigating this dynamic global environment together, we will continue to prioritize the health and well-being of our partners and customers while we support local health officials and governments in containing the virus,” said Johnson. “We are a resilient and enduring company by staying true to our Mission and Values with a purpose that goes beyond the pursuit of profit.”&nbsp; 

On the cusp of the company’s 50th year anniversary, Johnson will also reflect on the company’s strong performance in fiscal 2019 and preview a vision for Starbucks rooted in caring for people and growing the business in a sustainable and responsible way.

Starbucks mobilizes digital, drive thru and delivery capabilities to serve customers safely

Starbucks stores have always been known by customers as their “third place,” and as the world continues to navigate COVID-19, the company has continued to respond quickly by modifying its “third place” experience—moving to a “to go” model across the U.S. and Canada for at least two weeks to encourage social distancing in its cafés. As the situation with COVID-19 is extremely dynamic customers can now walk up and order at the counter, use the “order ahead” feature within the Starbucks mobile app, visit a Drive Thru or use Starbucks® Delivers to get their daily Starbucks. For the latest information on store hours and closures, customers can access information via the <a href="https://www.starbucks.com/store-locator">Store Locator</a> or on the Starbucks app.

The company also announced that Starbucks® Delivers, in partnership with Uber Eats, will reach national U.S. availability by the end of April, making it available in 48 states where both companies operate. The expansion of Starbucks Delivers is part of the company’s continuous effort to leverage customers’ digital preferences and provide another convenient way to enjoy Starbucks wherever they are.

The latest information on Starbucks response to COVID-19 will be available <a href="http://stories.starbucks.com/stories/2020/navigating-through-covid-19">here</a>.

Investing in Partners and the Future of Starbucks

Starbucks shared with partners that they will never have to choose between working or taking care of themselves and that the company has put programs and support in place including catastrophe&nbsp;pay and benefits that support their physical and mental health. As Johnson will emphasize today, Starbucks success is built on the achievements of the 400,000 partners who wear the green apron around the world. Bolstering this commitment to partners, earlier this week Starbucks announced a new mental health benefit that provides partners and their families with 20 free counseling sessions every year. This is made possible by a new partnership with Lyra Health, a mental health provider that offers an online solution Starbucks partners can use to securely and confidentially seek evidence-based mental health treatment for their needs, identify available health providers and book appointments on the spot. 

Starbucks also announced mental health training sessions inspired by Mental Health First Aid for U.S. and Canada store managers and field leadership to be available this summer. The sessions have been developed in conjunction with the National Council for Behavioral Health to help equip leaders to support partners who may be experiencing mental health issues, substance use problems, or crisis moments and provide them with resources for further support.

Celebrating Continued Recovery and Resilience in China

Further deepening Starbucks long-held commitment to elevate specialty coffee in China, last week Starbucks announced it will open a state-of-the-art Coffee Innovation Park (CIP) in China in 2022. The facility will incorporate a roasting plant, warehouse and distribution center, creating highly-skilled jobs and new career opportunities that will help drive smart and sustainable coffee manufacturing. The $130 million investment in the CIP is Starbucks largest coffee manufacturing investment outside of the United States and the first in Asia. It will serve as a key component of the company’s global roasting network, and the bold infrastructure investment further deepens Starbucks multi-decade commitment to strengthen the specialty coffee industry in China, where it aims to have 6,000 stores by 2022.

Advancing Shareholder Returns Commitment

Starbucks announced today that its Board of Directors has authorized the repurchase of up to 40 million shares of the company’s common stock. This authorization is in addition to the approximately 16 million shares that remained available as of December 29, 2019 for repurchase under an existing authorization. In fiscal 2019, the company returned $12 billion to shareholders through a combination of dividends and repurchases of approximately 140 million shares.

"Starbucks has the financial strength and resilience to manage through this extraordinary time, guided by our Mission and Values,” said Johnson.&nbsp;“The increase in our share repurchase program reflects our confidence and optimism about the long-term growth opportunity for our business.”

Starbucks Annual Meeting of Shareholders will begin at 10 a.m. PT today via webcast at <a href="http://investor.starbucks.com">investor.starbucks.com</a>. A replay of the webcast will be available on the company’s website until end of day September 18, 2020.

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Forward Looking Statements

Certain statements contained herein are “forward-looking” statements within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “anticipate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “remain,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements include statements relating to: the strength, resilience and outlook of our operations, business and brand; increasing shareholder returns; our commitment to strengthen the specialty coffee industry and the long-term opportunity in China; our ability to grow our business in a sustainable and responsible way and our ability to leverage and grow digital experiences. These forward-looking statements are based on currently available operating, financial and competitive information and are subject to a number of significant risks and uncertainties. Actual future results and trends may differ materially depending on a variety of factors, including, but not limited to: fluctuations in U.S. and international economies and currencies; our ability to preserve, grow and leverage our brands; the ability of our business partners and third-party providers to fulfill their responsibilities and commitments; potential negative effects of incidents involving food or beverage-borne illnesses, tampering, adulteration, contamination or mislabeling; potential negative effects of material breaches of our information technology systems to the extent we experience a material breach; material failures of our information technology systems; costs associated with, and the successful execution of, the company’s initiatives and plans, including the integration of the East China business and the successful expansion of our Global Coffee Alliance with Nestlé; our ability to obtain financing on acceptable terms; the acceptance of the company’s products by our customers and evolving consumer preferences and tastes; changes in the availability and cost of labor; the impact of competition; inherent risks of operating a global business; the prices and availability of coffee, dairy and other raw materials; the effect of legal proceedings; the disruption to our business related to COVID-19; the effects of changes in tax laws and related guidance and regulations that may be implemented and other risks detailed in the company filings with the Securities and Exchange Commission, including the “Risk Factors” section of Starbucks Annual Report on Form 10-K for the fiscal year ended September 29, 2019 and of Starbucks Quarterly Report on Form 10-Q for the fiscal quarter ended December 29, 2019. The company assumes no obligation to update any of these forward-looking statements.

Starbucks Hosts Virtual Annual Meeting of Shareholders Rooted in Caring for People and Growing its Business Responsibly - Starbucks Stories

Starbucks Hosts Virtual Annual Meeting of Shareholders Rooted in Caring for People and Growing its Business Responsibly

Starbucks will hold its 28th Annual Meeting of Shareholders today, virtually, with opening remarks from Kevin Johnson, president and chief executive officer.

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