{"id":13834,"date":"2023-03-23T11:32:39","date_gmt":"2023-03-23T18:32:39","guid":{"rendered":""},"modified":"2025-03-04T09:47:35","modified_gmt":"2025-03-04T17:47:35","slug":"top-takeaways-from-starbucks-2023-annual-meeting-of-shareholders","status":"publish","type":"post","link":"https:\/\/historias.starbucks.com\/en-es\/stories\/2023\/top-takeaways-from-starbucks-2023-annual-meeting-of-shareholders\/","title":{"rendered":"Top takeaways from Starbucks 2023 Annual Meeting of Shareholders"},"content":{"rendered":"<div class=\"sbx-page-header-featured alignfull has-large-flow-space requires-no-top-page-spacing\">\n\t<div class=\"sbx-page-header-featured__inner\">\n\t\t<div class=\"sbx-page-header-featured__content\">\n\t\t\t\t\t\t\t<div class=\"sbx-page-header-featured__top-meta\">\n\t\t\t\t\t<a href=\"https:\/\/historias.starbucks.com\/en-es\/stories\/news\/\" class=\"sbux-pill\">\n\t\t\t\t\t\t<span>News<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\n\t\t\t<h1\t\t\t\tclass=\"sbx-page-header-featured__title is-style-display-sm\"\n\t\t\t\titemprop=\"headline\"\n\t\t\t>\n\t\t\t\tTop takeaways from Starbucks 2023 Annual Meeting of Shareholders\t\t\t<\/h1>\n\n\t\t\t\t\t\t\t<div class=\"sbx-page-header-featured__excerpt\" itemprop=\"abstract\">\n\t\t\t\t\t<p>Laxman Narasimhan hosts his first Annual Meeting of Shareholders.<\/p>\n\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t<div class=\"sbx-page-header-featured__bottom-meta\">\n\t\t\t\t\t<div class=\"sbux-meta\">\n\t\t\t\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"sbux-meta__item\">\n\t\t\t\t\t\t\t\t<time\n\t\t\t\t\t\t\t\t\titemprop=\"datePublished\"\n\t\t\t\t\t\t\t\t\tdatetime=\"2023-03-23T11:32:39-07:00\"\n\t\t\t\t\t\t\t\t>\n\t\t\t\t\t\t\t\t\tMarch 23, 2023\t\t\t\t\t\t\t\t<\/time>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div\n\t\t\t\tclass=\"sbx-page-header-featured__media\"\n\t\t\t\tstyle=\"--x: 0.5; --y: 0.5\"\n\t\t\t>\n\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1440\" height=\"700\" src=\"https:\/\/about.starbucks.com\/uploads\/sites\/34\/2023\/03\/SBX20230323-AMOS-Top-Takeaways-FeatureHorizontal3.jpg\" class=\"sbx-page-header-featured__image wp-post-image\" alt=\"Scenic view of sunrise over Hacienda Alsacia coffee farm\" itemprop=\"image\" sizes=\"(max-width: 320px) 300px, (max-width: 586px) 480px, (max-width: 864px) 768px, 1280px\" loading=\"eager\" srcset=\"https:\/\/about.starbucks.com\/uploads\/sites\/34\/2023\/03\/SBX20230323-AMOS-Top-Takeaways-FeatureHorizontal3.jpg 1440w, https:\/\/about.starbucks.com\/uploads\/sites\/34\/2023\/03\/SBX20230323-AMOS-Top-Takeaways-FeatureHorizontal3-300x146.jpg 300w, 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is-style-meta\">\n\t<li class=\"sbux-post-details__item\">\n\t\t<time\n\t\t\titemprop=\"timeRequired\"\n\t\t\tdatetime=\"PT4M\"\n\t\t>\n\t\t\t4 min read\t\t<\/time>\n\t<\/li>\n\t\t<li class=\"sbux-post-details__item\">\n\t\t<time\n\t\t\titemprop=\"datePublished\"\n\t\t\tdatetime=\"2023-03-23T11:32:39-07:00\"\n\t\t>\n\t\t\tMarch 23, 2023\t\t<\/time>\n\t<\/li>\n\t<\/ul>\n<body><h2 class=\"wp-block-heading is-style-h4\">Laxman Narasimhan hosts his first Annual Meeting of Shareholders<\/h2>\n<\/body>\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-wistia-inc wp-block-embed-wistia-inc\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"First AMoS_01 Video\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/pp835wfux5?dnt=1\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"500\" height=\"281\"><\/iframe><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>\n<\/div><\/figure>\n\n\n<body><p class=\"wp-block-paragraph\">On his fourth day as Starbucks chief executive officer, Laxman Narasimhan hosted the company\u2019s 31st Annual Meeting of Shareholders virtually. Together with the Starbucks Board of Directors, leadership team and green apron partners (employees) from around the world, Narasimhan shared what he learned throughout his immersion journey, including what it means to wear the green apron. And, importantly, he also also shared how these immersion observations will shape the future of Starbucks.\u00a0<\/p>\n<\/body>\n\n<body><h2 class=\"wp-block-heading is-style-h4\">New ceo shares vision for a \u2018limitless\u2019 Starbucks\u00a0<\/h2>\n<\/body>\n\n<body><p class=\"wp-block-paragraph\">Narasimhan shared his bold vision for the refounding of Starbucks, which he reiterated in a <a href=\"https:\/\/stories.starbucks.com\/press\/2023\/laxman-letter-to-partners-with-gratitude-and-optimism\/\" class=\"is-external-link\" aria-describedby=\"external-link-description\" target=\"_blank\" rel=\"noopener noreferrer\">letter shared directly with partners<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\" height=\"13\" viewBox=\"0 0 13 13\" width=\"13\">\n\t<path d=\"M13 .43v3.9a.43.43 0 1 1-.87 0V1.48l-6.19 6.2a.43.43 0 0 1-.61 0 .43.43 0 0 1 0-.62l6.2-6.2H8.66a.43.43 0 1 1 0-.86h3.9c.24 0 .43.2.43.43ZM11.27 11.7V6.5a.43.43 0 1 0-.87 0v5.2c0 .24-.2.43-.43.43H1.3a.43.43 0 0 1-.43-.43V3.03c0-.24.2-.43.43-.43h5.2a.43.43 0 1 0 0-.87H1.3c-.72 0-1.3.59-1.3 1.3v8.67c0 .72.58 1.3 1.3 1.3h8.67c.71 0 1.3-.58 1.3-1.3Z\" fill=\"currentColor\"><\/path>\n<\/svg><\/a> to mark the occasion.\u00a0<\/p>\n<\/body>\n\n<body><p class=\"wp-block-paragraph\">\u201cWe have limitless potential, but we need to address what limits us,\u201d said Narasimhan. \u201cOur performance is strong, but our health needs to be stronger. We strive to be a different kind of company, and that is unchanged. But we now operate in a different kind of world.\u201d<\/p>\n<\/body>\n\n<body><h2 class=\"wp-block-heading is-style-h4\">Leaders define what limitless means to them\u00a0<\/h2>\n<\/body>\n\n<body><p class=\"wp-block-paragraph\">Throughout Narasimhan\u2019s immersion, he worked closely with the leadership team to define the limitless opportunities ahead for Starbucks.\u00a0\u00a0<\/p>\n<\/body>\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-wistia-inc wp-block-embed-wistia-inc\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Limitless_Means_ELT_01 Video\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/sp9wknvzhx?dnt=1\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"500\" height=\"281\"><\/iframe><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>\n<\/div><figcaption class=\"wp-element-caption\">Brady Brewer, executive vice president, chief marketing officer &amp; Rachel Ruggeri, executive vice president and chief financial officer<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-wistia-inc wp-block-embed-wistia-inc\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Limitless_Means_ELT_02 Video\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/ji7awirvp8?dnt=1\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"500\" height=\"281\"><\/iframe><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>\n<\/div><figcaption class=\"wp-element-caption\">Michael Conway, group president, International and Channel Development<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-wistia-inc wp-block-embed-wistia-inc\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Limitless_Means_ELT_04 Video\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/jsdg7tgy9g?dnt=1\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"500\" height=\"281\"><\/iframe><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>\n<\/div><figcaption class=\"wp-element-caption\">AJ Jones II, executive vice president and chief communications officer, Public Affairs<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-wistia-inc wp-block-embed-wistia-inc\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Limitless_Means_ELT_05 Video\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/k7noofyx78?dnt=1\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"500\" height=\"281\"><\/iframe><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>\n<\/div><figcaption class=\"wp-element-caption\">Brady Brewer, executive vice president, chief marketing officer<\/figcaption><\/figure>\n\n\n<body><p class=\"wp-block-paragraph\">Starbucks leadership emphasized the importance of the company using its scale for good, being open-minded to new ways of doing business, continuing to innovate the partner experience and uplifting communities around the world.\u00a0<\/p>\n<\/body>\n\n<body><h2 class=\"wp-block-heading is-style-h4\">Addressing what limits us\u00a0<\/h2>\n<\/body>\n\n<body><p class=\"wp-block-paragraph\">Starbucks shared that with the reinvention plan underway comes a continued investment in partner wages and store operations, and leadership will continue to directly engage with retail partners for guidance. Narasimhan shared that to keep closely connected to the culture and customers, as well as the challenges and opportunities within retail stores, he plans to work in stores for a half day each month and expects his leadership team will stay closely connected to the frontline experience as well. \u201cThis is just the beginning,\u201d he said.<\/p>\n<\/body>\n\n<body><p class=\"wp-block-paragraph\">Starbucks announced over $1 billion in investments in the overall partner experience. That&#8217;s shown up with the introduction of new benefits and with increases in pay.<\/p>\n<\/body>\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-wistia-inc wp-block-embed-wistia-inc\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Human_Connection_03 Video\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/x33qia58ln?dnt=1\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"500\" height=\"281\"><\/iframe><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>\n<\/div><figcaption class=\"wp-element-caption\">Sara Kelly, executive vice president and chief partner officer<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-wistia-inc wp-block-embed-wistia-inc\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Human_Connection_04 Video\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/jckymex60t?dnt=1\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"500\" height=\"281\"><\/iframe><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>\n<\/div><figcaption class=\"wp-element-caption\">Michelle Burns, executive vice president of Global Coffee, Tea and Cocoa<\/figcaption><\/figure>\n\n\n<body><p class=\"wp-block-paragraph\">From the beginning, Starbucks has always believed the partner experience is foundational to the success of the company. This past fiscal year alone Starbucks invested more than $1 billion in wages and training, bringing the average hourly pay at Starbucks to nearly $17.50\/hour nationally and with a range of $15-23\/hour. Factoring in the value of Starbucks benefits \u2013 rated number one by Aon \u2013 that number can rise to up to $10 (making it nearly $27.50\/hour), \u202fif our partners participate in all of our benefits. In addition, as a part of the reinvention plan, Starbucks recently completed the rollout of credit\/debit tipping across all eligible stores, giving customers more ways to show their appreciation to partners.\u00a0<\/p>\n<\/body>\n\n<body><p class=\"wp-block-paragraph\">Partner benefit enhancements mentioned in the last year include the renewal of the <a href=\"https:\/\/stories.starbucks.com\/stories\/2022\/the-coveted-starbucks-coffee-master-black-aprons-return\/\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"is-external-link\" aria-describedby=\"external-link-description\">Coffee Masters program<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\" height=\"13\" viewBox=\"0 0 13 13\" width=\"13\">\n\t<path d=\"M13 .43v3.9a.43.43 0 1 1-.87 0V1.48l-6.19 6.2a.43.43 0 0 1-.61 0 .43.43 0 0 1 0-.62l6.2-6.2H8.66a.43.43 0 1 1 0-.86h3.9c.24 0 .43.2.43.43ZM11.27 11.7V6.5a.43.43 0 1 0-.87 0v5.2c0 .24-.2.43-.43.43H1.3a.43.43 0 0 1-.43-.43V3.03c0-.24.2-.43.43-.43h5.2a.43.43 0 1 0 0-.87H1.3c-.72 0-1.3.59-1.3 1.3v8.67c0 .72.58 1.3 1.3 1.3h8.67c.71 0 1.3-.58 1.3-1.3Z\" fill=\"currentColor\"><\/path>\n<\/svg><\/a> and the <a href=\"https:\/\/coffeeexperiences.starbucks.com\/\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"is-external-link\" aria-describedby=\"external-link-description\">Origin Experience<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\" height=\"13\" viewBox=\"0 0 13 13\" width=\"13\">\n\t<path d=\"M13 .43v3.9a.43.43 0 1 1-.87 0V1.48l-6.19 6.2a.43.43 0 0 1-.61 0 .43.43 0 0 1 0-.62l6.2-6.2H8.66a.43.43 0 1 1 0-.86h3.9c.24 0 .43.2.43.43ZM11.27 11.7V6.5a.43.43 0 1 0-.87 0v5.2c0 .24-.2.43-.43.43H1.3a.43.43 0 0 1-.43-.43V3.03c0-.24.2-.43.43-.43h5.2a.43.43 0 1 0 0-.87H1.3c-.72 0-1.3.59-1.3 1.3v8.67c0 .72.58 1.3 1.3 1.3h8.67c.71 0 1.3-.58 1.3-1.3Z\" fill=\"currentColor\"><\/path>\n<\/svg><\/a> to deepen partners\u2019 connection to coffee.\u00a0<\/p>\n<\/body>\n\n<body><h2 class=\"wp-block-heading is-style-h4\">Human connection remains core to Starbucks\u00a0\u00a0\u00a0\u00a0<\/h2>\n<\/body>\n\n<body><p class=\"wp-block-paragraph\">In his letter today, Narasimhan wrote, \u201cThrough my immersion, Howard, the leadership team and I have spent a significant amount of time discussing the universal need for human connection \u2013 something Starbucks is uniquely positioned to deliver \u2013 in a world full of isolation, loneliness and social exclusion.\u202f Together, we have acknowledged the opportunity for a refounding of Starbucks \u2013<strong> <\/strong>to nurture the limitless possibilities for our partners, our customers, our communities, our farmers, our earth, and our shareholders by prioritizing human connection over every cup of coffee.&#8221;<\/p>\n<\/body>\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-wistia-inc wp-block-embed-wistia-inc\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Human_Connection_01 Video\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/2xbprx00eq?dnt=1\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"500\" height=\"281\"><\/iframe><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>\n<\/div><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-wistia-inc wp-block-embed-wistia-inc\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Human_Connection_02 Video\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/9qri8muzhv?dnt=1\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"500\" height=\"281\"><\/iframe><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Laxman Narasimhan hosts his first Annual Meeting of Shareholders.<\/p>\n","protected":false},"author":233,"featured_media":15765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"sbux_color_theme":"default","sbux_typography_theme":"default","byline":"","sbux_is_featured":false,"featured_image_focal_point_x":0,"featured_image_focal_point_y":0,"hide_related_posts":false,"downloadable_assets":[],"footnotes":""},"categories":[2229],"tags":[2030,2034],"class_list":["post-13834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-annual-meeting-of-shareholders","tag-laxman-narasimhan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Top takeaways from Starbucks 2023 Annual Meeting 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