International coffee giant Starbucks has announced that it is looking to expand its board by courting more experienced individuals. Thus, it has nominated Satya Nadella, the CEO of Microsoft, as one of the trio of nominees. The other individuals recommended by the company are LEGO’s executive chairman Jørgen Vig Knudstorp and Rosalind Brewer, President and CEO of Walmart-owned Sam’s Club.
This move from the coffee giant comes as it is now looking to broaden the diversity of its board of Directors. If this nomination is approved by shareholders, it will not only inflate the size of the board to 14 people whilst creating the nation’s most diverse corporate boards. The trio nominated today include an African-American woman, an Indian-born and Denmark-born executive.
Commenting on the same, Howard Schultz, Chairman and CEO of Starbucks, says,
For 45 years, the success of the Starbucks brand has been built upon the preservation of the trust, confidence, and connection we have with our customers and partners. Innovation and pushing to alter the status quo are also core to our culture, and by welcoming three world-class, values-based leaders — Roz, Jørgen and Satya — to Starbucks Board of Directors.
In the official statement, Starbucks states that they’ve nominated Nadella as he’ll be able to provide them with ‘invaluable insight’ into their international operations and distribution. They believe that Microsoft’s chief executive will enable them to focus on ways to use technology and expedite the presence of their brand and grow their business. He’ll also be It further continues to add,
Satya Nadella will bring to the Starbucks Board extensive experience and an understanding of how technology will be used and experienced around the world.
Commenting on his nomination, Nadella comments,
I’m honored to have been nominated to join the Board of this world-renowned company. As a regular customer myself, I’ve always admired Starbucks focus and deep passion for its customers and the communities it does business in and hope my years of experience in the technology industry will be of value to the company.
The annual shareholder meeting for Starbucks is scheduled to be held on March 22 and we’ll get a confirmation about their appointment on the same day. So, be on the lookout for a definite confirmation then.