The board of directors the board of starbucks corporation the. These guidelines are designed to promote transparency and the highest ethical business practices, enabling a relationship of trust among adobes board, management team, and stockholders. One particular proposal the board of directors recommended shareholders. Howard schultz, 63, is the founder of starbucks corporation and currently serves as our chairman and chief executive officer.
As mentioned by starbucks corporation fiscal annual report 2009, as group member of the board of directors, howard schultz was appointed to companys chairman and chief executive. In september 2019, we added three new board members with experience and expertise across global technology, retail and customer experience at scale. The board of directors the board of starbucks corporation the company is responsible for overseeing the exercise of corporate powers and ensuring that the companys business and affairs are managed to meet its stated goals and objectives and that the longterm interests of the shareholders are served. Mar 27, 2009 starbucks corporation board of directors howard schultz, 54, is the founder of the company and serves as our chairman, president and chief executive officer. Starbucks appoints mary dillon to board of directors. In addition to this important step, covington recommended that starbucks incorporate antibias training into. You can involve others in your organization by establishing a resource council rather than having a large board. Board and committee roles and responsibilities board of directors. You are cordially invited to attend the starbucks corporation 2018 annual meeting. Business ethics and compliance starbucks coffee company. Download pdf 231k restated articles of incorporation of starbucks corporation. In schultzs letter to partners, he thanked them for their collective efforts to build a different kind of company.
Ideally, board members should be people who are interested in governing the organization not in hands on volunteer activities and, especially, not in a management role. The structure of starbucks company is shown in figure 1. Director a person appointed to carry out the daytoday management of a company. Schultz has served as chairman of the board since starbucks inception in 1985 and he resumed his role as president and chief executive officer in january 2008. All three joined the starbucks board of directors effective sept. Currently, our board has directors, a substantial majority of whom meet all of the independence requirements of nasdaq and the u.
Other members of the starbucks board of directors include. Select the organizations president, ceo or executive director. Corporate governance principles and practices for the board of directors purpose the board of directors the board of starbucks corporation the company is responsible. News ebriefing character of the corporation video view a sample issue pdf. Board committee organization structure of starbucks. The board of directors has overall responsibility for risk oversight, including. Lee has served on the starbucks board of directors since 2003. Schultz will step down as chief executive officer and assume the role of executive chairman on april 3, 2017. Schultz has served as chairman of the board since our inception in 1985 and in january 2008, he resumed his role as president and chief executive officer. In this regard, our board of directors has adopted governance principles, committee charters and policies to lead starbucks governance practices. Starbucks corporation corporate governance board of directors. Starbucks corporation corporate governance principles and practices for the board of directors.
Starbucks executive director steps down business news. So thats why were working very hard to reduce the time they spend on manual tasks and. The standards of business conduct support the global business ethics policy. The board of directors remains as high functioning and engaged as ever. Download pdf 16k amended and restated bylaws of starbucks corporation. Corporate governance paper for starbucks eric sisco research paper. The role and duties of directors chartered institute of. Board of directors and board committee list starbucks. A public company must have at least two directors, a private company at least one. The ceo of starbucks basically told a shareholder that if the shareholder believes in traditional marriage he should dump his starbucks stock. Essentially it is the role of the board of directors to hire the ceo or general manager of the business and assess the overall direction and strategy of the business. Starbucks corporation board of directors and board committee list as of march 23, 2016. The role of the board of directors is to serve as authority in the organization so that shareholders interests are protected. Written correspondence can also be sent to the directors or the independent board committees of the starbucks.
Starbucks empowers all partners to make decisions that impact our reputation. The crc shall perform such other duties and responsibilities consistent with this charter or as otherwise requested by the board. The board is to provide a general governance of the companys affairs and provide direction of a. Board of directors director general job descriptions authority and responsibility the board of directors is the legal authority for the iiba halifax chapter. A conflict of interest exists when a personal interest or activity interferes or appears to interfere with the duties that you perform at, or owe to, starbucks.
Heres a basic rundown on the roles and responsibilities of every corporations major players. Jul 30, 2019 the role of the board of directors is to serve as authority in the organization so that shareholders interests are protected. Starbucks announces three new appointments to board of. The size of the board will be recommended by the nominating and corporate governance committee and approved by the board of directors in the best interest of the company. Mike ullman as its new chair and mellody hobson as vice chair of the board effective upon schultzs retirement. Starbucks corporation board of directors and board committee list as of november 16, 2016. Delegation in fulfilling its responsibilities, the committee may form and delegate any or all of its responsibilities to a subcommittee or subcommittees of the committee, as may be necessary or appropriate.
The corporate social responsibility is at starbucks, our commitment to good governance, ethical. Howard schultz is the founder of starbucks and serves as the chairman, president and chief executive officer. In this regard, our board of directors has adopted governance principles, committee charters and policies to lead. About starbucks since 1971, starbucks coffee company has been committed to ethically sourcing and roasting highquality arabica coffee. The directors of a company, collectively known as the board of directors, usually. A conflict of interest may unconsciously influence even the most ethical person and the mere appearance of a conflict may cause a partners acts or integrity to be questioned. Individual actions at work shape how the world views starbucks, which is why its so important that we each take responsibility for our starbucks mission and acting ethically in all situations. On the website there is detailed information on the committee charters, the directors nomination policy, the governance principles and the profile of each director and members of the board. My responsibility is to look not only to that individual but look more broadly at the. In this regard, our board of directors has adopted governance principles and committee charters to lead starbucks governance practices. This estimate is based upon 22 starbucks director salary reports provided by employees or estimated based upon statistical methods. The roles and responsibilities of a board of directors. The annual meeting of shareholders of starbucks corporation will be held at. Our board brings deep experience, expertise and insights to the important issues facing starbucks.
The board of directors, including the general manager or ceo chief executive officer, has very defined roles and responsibilities within the business organization. However, starbucks has questioned whether a classified board reduces accountability of directors because of the. Starbucks ceo howard schultz steps down from squares board. Starbucks corporation audit and compliance committee charter as amendedjune 24, 2014. Partners, we are all part of a different kind of company. In recognition of howards 36year contribution to starbucks, the board awarded him the honorary title of chairman emeritus. As an officer of the board, a director acts in a position of trust for the organization and is responsible for the effective governance of the organization.
Starbucks sbux directors and executive officers csimarket. Pdf corporate governance problem starbucks researchgate. Ullman iii, mellody hobson, roz brewer, mary dillon, kevin johnson, jorgen vig knudstorp, satya nadella, joshua cooper ramo, clara shih and javier teruel. They monitor the decisions that the ceo makes to ensure they are fiscally sound, and the bod also has some legal duties and duties involving managing the companys risks. The role of the board of directors ag decision maker. The fundamental responsibility of the companys board of directors is to promote the best interests of the company and its shareholders by overseeing the. Board committee organization structure of starbucks marketing. Second, however, there is a tradeoff between breadth and depth, that is, if board rules address more than one set of the agency problems, their effectiveness in. Download pdf 165k code of ethics for ceo, coo, cfo and finance. The purpose of the rule is to clarify and document the important duties of boards of directors of federal credit unions. Starbucks adds diversity to board of directors the network.
Starbucks board of directors, would expand his responsibilities and assume the role and responsibilities of president and chief executive officer, ef fective april 3, 2017. He brings a tech background to the leadership role, having spent 16 years at microsoft and five years. Starbucks announcement will hopefully inspire other companies to pursue and experience the benefits of diversity within their own boards. The duties and responsibilities of the board committees are set forth in their respective charters. Corporate governance principles revised march 21, 2017. Schultz has served as chairman of the board of directors since our inception in 1985, and in january 2008, he reassumed the role of president and chief executive. Starbucks also announced that its board of directors has appointed myron e. First, the rules relating to board composition, structure, duties and powers board rules are capable of being utilised to address any one or more of these sets of agency problems. The election will take place on march 22, 2017 at the companys annual meeting of shareholders. To elect twelve directors nominated by the board of directors to serve until the. Role of the board of directors in strategic management. Roles and responsibilities of the board chair board chairs interact with nearly everyone in the organization, so its essential that the board selects a person to fill the role who can meet the strong expectations of this role. Starbucks corporation corporate governance board of.
The board of directors is responsible for the overall governance of the nonprofit organization. Starbucks board of directors, would expand his responsibilities and assume the role. This leadership page is updated on a quarterly basis. Starbucks adds diversity to board of directors pdf. The governance documents are operating guidelines and controls that define how the board fulfills its responsibilities. Board responsibilities overview of directors functions the business of advanced emissions solutions, inc. Johnson has served as coo for two years and been on starbucks board of directors since 2009.
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