Today, Starbucks virtually hosted its 33^rd Annual Meeting of Shareholders. Brian Niccol, chairman and chief executive officer, delivered opening remarks, sharing early progress in our “Back to Starbucks” plan, and optimism for the future.  

Mellody Hobson, former lead independent director, then reflected on her 20-year tenure on the Starbucks board as she steps down, and the company offered gratitude and appreciation for her dedication. The formal meeting was led by Josh Gaul, vice president general counsel and corporate secretary.  

Grounded in Starbucks heritage, the company began the meeting with a coffee tasting from our Pike Place store, led by partners, tasting our new Sunsera blend, and a look at Starbucks reintroduction to the world with its Hello Again ad.  

Here are the important takeaways from today’s annual meeting of shareholders  

Niccol opened the meeting by emphasizing key insights he’s experienced and heard from customers since joining Starbucks: a commitment to serving the world’s finest coffee, the impact of the company’s incredible green apron partners, and the enduring strength of the Starbucks brand. 

“From bean to cup, it’s the people at Starbucks that make us special… The moment of connection between a customer and their barista can mean so much, especially in today’s fast-paced and sometimes isolating world. I’m proud to call them partners, and I’m proud of all they do. Together, it’s what make our brand enduring and iconic,” he said.  

Six months after taking the helm as Starbucks chairman and chief executive officer, Niccol acknowledged the current challenges facing the company are real, but its core strengths and opportunities ahead offer great optimism. 

“…we have a clear path forward. This path is grounded in reconnecting with who we are when we’re at our best. We call it “Back to Starbucks.” It’s about focusing on our brand truths and the role we play in the lives of our customers, and our partners and communities. It’s about getting those fundamentals right and then building and innovating from there,” he said.  

To get “Back to Starbucks,” the company is focused on reintroducing Starbucks to the world, delivering the customer experience to win the morning and at peak, reestablishing Starbucks as the community coffeehouse, and ensuring Starbucks is the unrivaled best job in retail, recognizing that success starts and ends with Starbucks green apron partners.   

“As a brand, we have reduced the frequency of discount-driven offers, taken steps to simplify our menu, and overhauled our marketing to remind people what sets us apart — the coffee we make, and the company we keep,” Niccol said. “Early reactions tell me these were the right steps for our partners, our customers, and the business.” 

  “As we take our next steps “Back to Starbucks,” we’ll continue to enhance the health of our store portfolio. We’re working hard to ensure our coffeehouses have the right vibe…we want to invite customers in, showcase our great coffee, provide a comfortable place to stay, and make them feel like their visit was time well spent.”  

With the near-term focus of “Back to Starbucks” on the U.S. business, Starbucks is a global company with significant international opportunity.  

“Our operations in many global markets also set an example for our U.S. coffeehouses, with outstanding partners serving customers every day. We have so much potential to keep growing around the world.” 

Hobson followed Niccol with remarks of gratitude to Starbucks shareholders for her nearly 20 years of service on the board.  

“The current board is stocked with a deep bench of world class business minds, and with Brian now firmly at the helm, I am confident Starbucks is in excellent hands. Together, Brian and the board will guide this company into the future…while remaining laser-focused on driving long-term value for all stakeholders,” Hobson said.  

Throughout his remarks, Niccol highlighted his confidence in returning the business to growth. “We’re focused on our “Back to Starbucks” plan. We are moving quickly to execute, and I am pleased at the early reaction to changes we’ve made from both customers and partners. It makes me optimistic for our future.”   

Shareholders voted on several proposals during the meeting and approved members of the Starbucks board of directors, including Jørgen Vig Knudstorp as lead independent director. The results of the votes will be posted publicly within four business days of the meeting. 

A full transcript and on-demand video are available on the Starbucks Investor Relations site.