Schultz will remain as a member of the Board after the transition. Narasimhan will officially join Starbucks on Octoand will work closely with Schultz before assuming the ceo role and joining the Board in April 2023. Schultz also introduced incoming ceo Laxman Narasimhan, who shared his enthusiasm for the Reinvention plan. I am confident that our partners and world-class leadership team will capture the significant global growth opportunity ahead, unlocking value for all our stakeholders.” “Guided directly by our partners, we have already begun to take action on an inspired roadmap to build the future of Starbucks, all while staying true to our mission of uplifting communities through a shared love for coffee and further extending our coffee leadership and innovation.
“As we execute on our Reinvention plan, we are building on our 51-year history of market leading innovation to position our business and our brand for the next chapter of growth,” said Schultz. Presentations highlighted decisive actions and targeted investments in partners, customers, and stores that are expected to accelerate the company’s long-term growth, progressively expand operating margin, and drive high-teens non-GAAP EPS growth annually through fiscal 2025. SEATTLE – Starbucks (NASDAQ: SBUX) today hosted its biennial Investor Day in Seattle where interim chief executive officer Howard Schultz, chief financial officer Rachel Ruggeri, and Starbucks leaders showcased the company’s Reinvention plan to an in-person audience of more than 150 investors. Introduces Three-Year Financial Roadmap, Delivering Annual 7-9% Comparable Store Sales Growth, 10-12% Revenue Growth, and 15-20% Non-GAAP EPS Growth
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