In a Revolutionary Guesture of Cost Savings, Starbucks Refuses to Increase CEO’s Salary

From the Wall Street Journal:

Starbucks Corp. Chairman and Chief Executive Howard Schultz and other top managers will not get salary increases next fiscal year, according to an internal Starbucks memo sent this week.

The move reflects the Seattle-based coffee chain’s continuing effort to rein in spending as it tries to revive its profit growth and stock price.

Finally! A big corporation realized that tempering CEO pay is indeed a way to save money.

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Written by Drea Knufken

Drea Knufken

Currently, I create and execute content- and PR strategies for clients, including thought leadership and messaging. I also ghostwrite and produce press releases, white papers, case studies and other collateral.