Investment in Sicilian Olive Oil Plantation by Former Starbucks CEO
Former Starbucks CEO Howard Schultz invests in a Sicilian olive oil plantation, creating a new drink called Oleato. His involvement with Starbucks post-retirement has caused tension with the current CEO and activist hedge fund Elliott Management. The investment has raised corporate governance concerns.
Key Points
- Howard Schultz invested in a Sicilian olive oil plantation, Partanna, and created the Oleato drink
- Tension between Schultz and current Starbucks CEO Narasimhan due to declining stock price and sales performance
- Schultz's involvement with Starbucks post-retirement has raised corporate governance concerns
Pros
- Creation of a new drink, Oleato, by blending olive oil with coffee
- Potential for transforming the coffee industry
Cons
- Tension between former CEO Howard Schultz and current Starbucks CEO Laxman Narasimhan
- Corporate governance concerns regarding Schultz's ongoing involvement with Starbucks