Elliott Statement on Starbucks (SBUX): Today's announcement was transformational step forward

Elliott Investment Management L.P. ("Elliott"), today released the following statement from Elliott Managing Partner Jesse Cohn and Partner Marc Steinberg regarding Starbucks Corporation (NYSE: SBUX) (the "Company" or "Starbucks") and its engagement with the Company:

Elliott has become one of the largest investors in Starbucks because of our confidence in the long-term value-creation opportunity we see at one of the world's most important brands. Elliott has been engaged with Starbucks' Board over the past two months regarding our perspectives on the Company's key issues, and we view today's announcement as a transformational step forward for the Company. We welcome the appointment of Brian Niccol, and we look forward to continuing our engagement with the Board as it works toward the realization of Starbucks' full potential.

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