In a Revolutionary Guesture of Cost Savings, Starbucks Refuses to Increase CEO’s Salary
August 28, 2008 by Alex
Filed under Business Strategy, Strategy
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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