Starbucks general counsel steps down from the company
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Starbucks Corporation (NASDAQ:SBUX) disclosed in a SEC filing that General Counsel Rachel Gonzalez was leaving her role.
Gonzalez will continue to serve as an adviser until she leaves the company on May 20, per the new filing. Gonzalez will receive at least $7.5 million in severance, prorated bonuses, equity grants and other benefits.
The move was one of the first by the coffee giant in the C-suite since Howard Schultz came back on as interim CEO with a sharp focus on how he aims to return the company to growth following the pandemic.
On Tuesday, Wedbush Securities dropped its rating on Starbucks Corporation (SBUX) to Neutral from Buy after the firm lost conviction that the coffee chain giant is on track to return to low double-digit EPS growth in FY23.
Shares of SBUX fell 0.76% premarket after shedding 4.51% on Tuesday.
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