8-KLeadership ChangesExhibits & Filings

STARBUCKS CORP 8-K Report, Executive Changes (May 5, 2011)

Filed May 5, 2011For Securities:SBUX

Summary

Starbucks Corporation (SBUX) announced a change to its Board of Directors via an 8-K filing on May 5, 2011. The company's Board was expanded from 10 to 11 directors, with the appointment of Joshua Cooper Ramo. Mr. Ramo's addition brings new expertise to the board and he has been assigned to the Nominating and Corporate Governance Committee, indicating a focus on board oversight and strategic direction. Investors should note that Mr. Ramo will be compensated under the standard non-employee director plan, including stock options. The filing explicitly states there are no undisclosed arrangements or related party transactions, providing transparency regarding the appointment. This move signals a potential strengthening of the board's governance and advisory capabilities as Starbucks continues to navigate its business environment.

Key Highlights

  • 1Starbucks Corporation's Board of Directors has been expanded from 10 to 11 members.
  • 2Joshua Cooper Ramo has been elected as a new director to the Board.
  • 3Mr. Ramo has also been appointed to the Nominating and Corporate Governance Committee.
  • 4The new director will participate in the standard compensation plan for non-employee directors, which includes stock options.
  • 5The company confirmed no undisclosed arrangements or related party transactions concerning Mr. Ramo's appointment.
  • 6The event date for this disclosure was May 3, 2011, with the filing made on May 5, 2011.

Frequently Asked Questions

Joshua Cooper Ramo has been elected as a new director to the Starbucks Corporation Board. While the filing does not detail his specific background, his appointment to the Nominating and Corporate Governance Committee suggests his role will involve oversight of board nominations and corporate governance practices. Investors may wish to consult the referenced press release (Exhibit 99.1) for more biographical details.

Mr. Ramo will be compensated according to Starbucks' standard compensation plan for non-employee directors. This plan includes a new non-employee director stock option award, as further described in the company's proxy statement.

No, the filing explicitly states that there are no arrangements or understandings pursuant to which Mr. Ramo was elected. Furthermore, there are no related party transactions between Starbucks and Mr. Ramo that require disclosure under Item 404(a) of Regulation S-K.

Expanding the board and adding a new director can signify several things for investors. It may indicate a need for additional expertise or perspectives to guide the company's strategy, a response to governance best practices, or preparation for future growth and challenges. Mr. Ramo's appointment to the Nominating and Corporate Governance Committee suggests a focus on strengthening the board's oversight functions.