Starbucks announces the appointment of two new board members: Marissa Mayer, previous CEO of Yahoo, among them.
In a strategic move, Starbucks has added two new members to its board of directors: Marissa Mayer and Dambisa Moyo.
Marissa Mayer, a renowned figure in the tech industry, brings a wealth of experience to the table. She is the CEO and founder of Sunshine AI, a technology startup specialising in AI automation. Prior to this, Mayer served as CEO and president of Yahoo and spent 13 years at Google. Beyond her tech-focused ventures, she has also made her mark on the boards of major corporations such as Walmart, AT&T, and Hilton Hotels & Resorts.
Dambisa Moyo, an economist with over 30 years of experience in macroeconomics and international affairs, complements Starbucks' new additions. She co-founded Versaca Investments, a family office focusing on global growth investments. Moyo also held the position of CEO of economics firm Mildstorm from 2015 to 2021 and has worked at Goldman Sachs and the World Bank. She serves on the boards of Chevron Corporation and Condé Nast, among others.
Starbucks CEO, Brian Niccol, expressed that these additions bring valuable experience in technology, transformation, and global affairs, which align with Starbucks' strategic priorities as the company advances its "Back to Starbucks" strategy. The board now consists of 11 members.
The journalist writing for Restaurant Business, a longtime industry journalist, noted that the new board members bring a unique blend of expertise to Starbucks. The editor-in-chief of Restaurant Business, known for their focus on restaurant finance, mergers and acquisitions, and the economy, with a particular focus on quick-service restaurants, emphasised the strategic importance of these appointments.
Moyo and Mayer are the newest members of the Starbucks board of directors, and their terms became effective on Wednesday. With their addition, Starbucks continues to demonstrate its commitment to strategic growth and innovation.
[1] https://www.starbucks.com/about-us/corporate-responsibility [2] https://www.starbucks.com/about-us/newsroom [3] https://www.sunshine.ai/ [4] https://www.dambisamoyo.com/ [5] https://www.versaca.com/
- The addition of Marissa Mayer and Dambisa Moyo to Starbucks' board of directors signifies a significant stride in the company's commitment to technology and innovation, given Mayer's background at Google and Sunshine AI, an AI automation technology startup.
- As Starbucks moves forward with its "Back to Starbucks" strategy, the appointment of economist Dambisa Moyo and technology CEO Marissa Mayer demonstrates the company's focus on strategic finance, business growth, and global affairs, leveraging their extensive experience in these areas.
