Starbucks Announces Strategic Initiatives

Starbucks Announces Strategic Initiatives to Increase Shareholder Value; Chairman Howard Schultz Returns as CEO

SEATTLE, Jan 07, 2008 (BUSINESS WIRE) -- The Board of Directors of Starbucks Coffee Company (NASDAQ:SBUX) today announced a series of initiatives aimed at driving shareholder value by refocusing the Company on providing customers with the distinctive Starbucks Experience and building on Starbucks legacy of innovation. To accomplish this objective, the Board has appointed Howard Schultz, chairman, to take on the additional role of chief executive officer, effective immediately, replacing Jim Donald, who is leaving the Company.

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