Sunday, March 31, 2013

Starbucks CEO defends gay-marriage stance in shareholder meeting questions (Video)

There was a sharp exchange between Starbucks CEO Howard Schultz and a shareholder during the question-and-answer session that ended Thursday's otherwise upbeat annual shareholders meeting in Seattle. The shareholder questioned whether it was prudent for Starbucks to risk shareholder value by supporting gay marriage, a move that led to a boycott of the coffee company. The shareholder described Starbucks' first-quarter performance as disappointing and due at least in part to the boycott. Schultz interrupted the shareholder, asking, "What is your question?" and then again a few moments later, again asking, "What is your question?" "The lens we use to make decisions is the lens of our people. We want to embrace diversity," said Schultz to a loud swell of applause from shareholders and Starbucks staffers attending the annual meeting. Schultz suggested that, if the shareholder did not like the 38 percent annual return on shareholder value that Starbucks produced for the year, "You can sell your shares of Starbucks. It's a free country."

MORE: http://www.bizjournals.com/seattle/blog/2013/03/starbucks-ceo-fields-shareholder.html