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Investors Approve Starbucks’ Pay Package Without DEI Reference

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Investors Approve Starbucks' Pay Package Without DEI Reference

(CTN News) – Earlier this year, Starbucks Corporation shareholders approved a plan that would eliminate a bonus for its executives based on DEI goals in favor of a more general workforce target, as well as shifting more compensation based on financial performance.

It has been decided to scrap a specific goal from the executive compensation package for 2023 that linked 7.5% of executives’ bonuses to an undisclosed goal linked to diversity, equity, and inclusion as part of the new structure, which was approved at the company’s annual meeting on March 13.

It has been reported that 92% of shareholders approved the new plan, the company said in a filing Friday.

The vote is non-binding, but Starbucks companies often make changes to their employee compensation plans if the plans fail or receive significant opposition from employees.

As early as October 2020, the coffee chain announced that as part of executive compensation, it would include targets related to ESG.

In addition to the company’s equality, social and governance goals, Starbucks is working on a longer-term incentive program that makes up about 25% of its bonuses.

The bonus program will no longer mention DEI, but instead refer to “talent.” At Starbucks, 75% of the bonus is paid for meeting financial targets, up from 70%.

As stated in an earlier regulatory filing, the company made the decision to “modify the talent metric in connection with this change in order to include a broader spectrum of the workforce as well as provide for different representation improvement targets.”

The company says it made the decision following meetings with shareholders.

Starbucks retains the inclusion and diversity goals as part of its overall compensation structure, according to a spokesperson for the company.

The company stated that it is still committed to meeting the US’s racial and ethnic diversity goals to achieve at least 30% diversity at all levels of the company and at least 40% diversity in manufacturing and retail roles by 2025.


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Alishba Waris is an independent journalist working for CTN News. She brings a wealth of experience and a keen eye for detail to her reporting. With a knack for uncovering the truth, Waris isn't afraid to ask tough questions and hold those in power accountable. Her writing is clear, concise, and cuts through the noise, delivering the facts readers need to stay informed. Waris's dedication to ethical journalism shines through in her hard-hitting yet fair coverage of important issues.

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