Starbucks Has Major Management Change
Video: CNBC sits down and talks with Starbucks Chairman Howard Schultz and new incoming CEO Kevin Johnson as Starbucks has major management change. There are two interview links, the first the two executives discuss why the management change was necessary and introducing Kevin Johnson as the new incoming CEO. The second link, the two executives talk about the company’s five year plan with Jim Cramer which was presented at the Starbucks investors conference including Howard Schultz’s new role as Chairman and his opportunity to spearhead the opening of the company’s new upscale roasteries throughout the nation.
Starbucks (SBUX) is down 2.12% YTD compared to the benchmark S&P 500 (SPY) is up 10.5% YTD. Starbucks holds a 3.56% holding weighting in the Consumer Discretionary ETF which is up 7.6% YTD. It could be said there has been a rotation from winners in consumer discretionary and consumer staples of late into financials and industrials when President Elect Trump was elected, thus affecting consumer discretionary components such as Starbucks.
Andrew Ross Sorkin speaks with Schultz and Johnson about management change.
Jim Cramer speaks with Schultz and Johnson on Mad Money