Egan-Jones Recommends “withhold” for Starbucks Chair Schultz due to Cybersecurity Concerns

Press Release ( - PHILADELPHIA - Mar 17, 2018 - Haverford, PA – Egan Jones Proxy Services (EJP) released a report calling for a “withhold” vote for Starbucks Corporation [SBUX] Chairman of the Board Howard Schultz due to the extremely poor Cyber Security Rating of “Needs Attention,”  or the lowest possible score.

Historical observations of the firm’s web footprint by our cyber security partner show several concerns in regards to DNS health on domains used by the company. We note that this is especially problematic for a firm that is in the retail business.

Additionally we are recommending “withhold” votes for members of the Compensation Committee currently up for nomination due to a Compensation Rating of “Some Concerns,” the second lowest possible. This poor Compensation Rating has also resulted in a negative recommendation for the firm’s “say-on-pay” proposal.

Several other non-diverse Directors received a negative recommendation due to an excessively long tenure on the Board and membership jibbb in key Board committees. According to Egan-Jones’ Proxy Guidelines a director whose tenure on the Board is 10 years or more is considered affiliated and should not be appointed to key Board committees, with the exception of diverse nominees.

For questions on this or any other EJP reports please contact Kevin McManus, Vice President and Director of Proxy Services, using the contact details below.


Kevin McManus

Vice President and Director of Proxy Services
Egan-Jones Proxy Services
61 Station Road
Haverford, PA 19041

Egan-Jones Proxy Services (“EJP”) is a leading provider of independent proxy research, voting recommendations and voting services to a variety of institutional investors. EJP assists institutional fiduciaries in determining voting directions as well as assisting in the administrative submission of proxy voting, and provides research, recommendations, voting, and voting record

Source : Egan-Jones Proxy Services

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