The Strategic Organizing Center (SOC), a coalition of labor unions, announced Tuesday that it has nominated three candidates for board seats at Starbucks (NASDAQ:SBUX) in an effort to enhance working conditions.
In a statement, the Union said that Maria Echaveste, Joshua Gotbaum, and Wilma Liebman are the three candidates nominated for election to the Starbucks board. The three candidates have, at different times, served in past U.S. administrations.
Whether any of the three will make it to the board depends on the outcome of Starbucks’ annual meeting scheduled for March 13, 2024. There, shareholders get to determine who ascends to the eight-member board.
“We ask shareholders to elect these independent, objective leaders who have the right skill and experience to help the company address its human capital issues and chart a sustainable path forward,” the SOC said in a post on X (formerly Twitter).
Meanwhile, Starbucks mentioned that it has invested over $3 billion in its workers in the last three years. According to the company, the investment went into wage increases, training, innovative equipment, and technology.
Is Starbucks a Buy or Sell?
On TipRanks, SBUX stock has a Moderate Buy consensus rating based on seven Buys and 12 Holds. After a 6.3% rise in its share price over the past year, the average Starbucks price target of $111.33 per share implies 7.54% upside potential.
