Home » Lifestyle » Starbucks CEO talks ‘reinvention’ plan in first shareholders meeting
Starbucks CEO talks ‘reinvention’ plan in first shareholders meeting
LifestyleComments Off on Starbucks CEO talks ‘reinvention’ plan in first shareholders meeting
FOX Business Flash top headlines for March 22
Check out what’s clicking on FoxBusiness.com
Starbucks CEO Laxman Narasimhan issued his first letter to shareholders Thursday underscoring how vital executing the company's "reinvention plan" is as it fights to enhance its brand while battling worker uprisings.
The company-wide reinvention strategy was introduced last year to improve stores and the employee and customer experience as unionization efforts swept the nation. Unfair labor practice charges also started to pile up against Starbucks and Starbucks Workers United, the group organizing workers, as the contentious process ensued.
"While our performance is strong, our health needs to be stronger," Narasimhan wrote in the letter to shareholders just days after taking his seat at the helm of the company.
Narasimhan officially assumed the role as CEO on Monday, two weeks earlier than expected. He succeeded Howard Schultz, who came out of retirement last spring to serve as interim CEO and find a permanent replacement for Kevin Johnson.
STARBUCKS CEO KEVIN JOHNSON TO RETIRE, HOWARD SCHULTZ TO RETURN