Starbucks Shares Rise Amid Activist Investor Engagement
Elliott Management and Starboard Value push for board changes and performance improvements at the coffee chain.
- Starbucks is in settlement talks with Elliott Management, which seeks to add Jesse Cohn to the board.
- Starboard Value has also taken a stake in Starbucks, though its demands remain unclear.
- Starbucks shares have risen despite a year-to-date decline of about 20%.
- CEO Laxman Narasimhan is likely to retain his position if a settlement is reached.
- Starbucks faces challenges with declining sales in the U.S. and China.