WEST
PALM BEACH, Fla., Aug. 13,
2024 /PRNewswire/ -- Elliott Investment Management
L.P. ("Elliott"), today released the following statement from
Elliott Managing Partner Jesse Cohn and Partner Marc Steinberg
regarding Starbucks Corporation (NYSE: SBUX) (the "Company" or
"Starbucks") and its engagement with the Company:
Elliott has become one of the largest investors
in Starbucks because of our confidence in the long-term
value-creation opportunity we see at one of the world's most
important brands. Elliott has been engaged with Starbucks' Board
over the past two months regarding our perspectives on the
Company's key issues, and we view today's announcement as a
transformational step forward for the Company. We welcome the
appointment of Brian Niccol, and we
look forward to continuing our engagement with the Board as it
works toward the realization of Starbucks' full potential.
About Elliott
Elliott Investment Management L.P. (together with its
affiliates, "Elliott") manages approximately $69.7
billion of assets as of June 30, 2024. Founded in 1977,
it is one of the oldest funds under continuous management. The
Elliott funds' investors include pension plans, sovereign wealth
funds, endowments, foundations, funds-of-funds, high net worth
individuals and families, and employees of the firm.
Media
Contact:
Casey
Friedman
Elliott Investment Management
L.P.
(212)
478-1780
cFriedman@elliottmgmt.com
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SOURCE Elliott Investment Management L.P.