Starbucks Corp 8-K, filed Jun 15, 2021
Starbucks Corp (SBUX)
8-K
2021-06-15
For: 2021-06-11
View Original
Added on
April 10, 2026
About this 8-K
Starbucks Corp filed this 8-K on June 15, 2021, reporting on events of June 11, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 11, 2021
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices) (Zip Code)
(206 ) 447-1575
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||
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| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Selection 13(a) of the Exchange Act. o
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer.
On June 15, 2021, Starbucks Corporation (the “Company” or “Starbucks”) announced the appointment of John Culver, who is serving as group president, International, Channel Development and Global Coffee, Tea & Cocoa, as group president, North America and chief operating officer, effective June 28, 2021. Mr. Culver’s appointment is in addition to the other senior management changes described in the press release furnished under Item 7.01 of this Form 8-K.
Mr. Culver, 60, joined Starbucks in August 2002 and served as group president, International, Channel Development and Global Coffee, Tea & Cocoa from July 2018 to June 2021. From October 2017 to July 2018, Mr. Culver served as group president, International and Channels. From September 2016 to October 2017, he served as group president, Starbucks Global Retail. From May 2013 to September 2016, he served as group president, China, Asia Pacific, Channel Development and Emerging Brands. Mr. Culver served as president, Starbucks Coffee China and Asia Pacific from October 2011 to May 2013. From December 2009 to October 2011, he served as president, Starbucks Coffee International. Mr. Culver served as executive vice president; president, Global Consumer Products, Foodservice and Seattle’s Best Coffee from February 2009 to September 2009, and then as president, Global Consumer Products and Foodservice from October 2009 to November 2009. He previously served as senior vice president; president, Starbucks Coffee Asia Pacific from January 2007 to February 2009, and vice president; general manager, Foodservice from August 2002 to January 2007. Mr. Culver currently serves on the Board of Directors of each of Kimberly-Clark Corporation and Columbia Sportswear Company.
In connection with Mr. Culver’s appointment, the Compensation and Management Development Committee of the board of directors of the Company approved an annualized base salary of $1,000,000, an annual bonus target under the Company’s Executive Management Bonus Plan of 150% of base salary, and an annual long-term incentive target of $6,000,000.
There is no arrangement or understanding between Mr. Culver and any other person pursuant to which Mr. Culver was appointed as chief operating officer. Mr. Culver does not have any family relationships with any director or other executive officer of the Company, and there are no transactions in which Mr. Culver has an interest requiring disclosure under Item 404(a) of Regulation S-K.
Item 7.01 Regulation FD Disclosure.
A copy of the Company’s press release relating to the announcement described in Item 5.02 is furnished as Exhibit 99.1 to this Form 8-K.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Description | |||||||
| 104 | Cover Page Interactive Data File (formatted as inline XBRL) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| STARBUCKS CORPORATION | ||||||||||||||
| Dated: | June 15, 2021 | |||||||||||||
| By: | /s/ Rachel A. Gonzalez | |||||||||||||
| Rachel A. Gonzalez | ||||||||||||||
executive vice president and general counsel | ||||||||||||||
Starbucks Announces Leadership Promotions to Drive Continued Purpose-Driven Growth
John Culver promoted to group president, North America and chief operating officer; Michael Conway to group president, International and Channel Development; and Michelle Burns to executive vice president, Global Coffee, Tea and Cocoa
SEATTLE (June 15, 2021) – Starbucks Corporation (NASDAQ: SBUX) today announced several leadership appointments to advance the company's strategic business goals and position Starbucks on a clear growth path for the future. The company announced the promotions of John Culver as group president, North America and chief operating officer, Michael Conway to group president, International and Channel Development, and Michelle Burns to executive vice president, Global Coffee, Tea and Cocoa. These changes are effective as of June 28, 2021.
“As we plan for the 2022 fiscal year and beyond, Starbucks is fortunate to have a deep, talented and diverse team of senior executives we are able to tap to help lead us forward,” said Kevin Johnson, president and chief executive officer. “These appointments support our Growth at Scale agenda to bring about predictable, sustainable growth for the long-term, as well as our commitments to being a People Positive and Planet Positive company. I want to congratulate John, Michael and Michelle on their promotions and look forward to continuing to work with them closely.”
John Culver joined Starbucks in 2002 and has been at the forefront of the growth and expansion for the company across multiple geographies and cultures, leading Starbucks International for the last 15 years. Under his leadership, Starbucks International’s presence has grown to encompass more than 15,000 retail stores and more than 800,000 points of presence through channels outside our stores.
Michael Conway joined Starbucks in 2013 to lead Channel Development and, since that time, has gone on to lead Starbucks U.S. Licensed Stores and Canada businesses. In his expanded role as group president, International and Channel Development, he will oversee the retail business segment that includes all international markets outside of the U.S. and Canada. He’ll also lead Starbucks global Channel Development business segment including the Global Coffee Alliance with Nestlé.
Michelle Burns leads Starbucks Global Coffee, Tea and Cocoa with more than 26 years of experience at Starbucks. Her promotion to executive vice president reflects the importance of coffee as core to Starbucks business and recognizes the critical role coffee plays in the intersectionality of Starbucks Planet and People Positive goals within the coffee supply chain, on behalf of our farmers.
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