At the annual Starbucks shareholder’s meeting in Seattle, CEO Howard Schultz was asked by a stockholder about the anit-gay protests against the company in regards to their public stance in favor of same-sex marriage.
Schultz answered thusly:
“Not every decision is an economic decision,” Schultz responded. “Despite the fact that you recite statistics that are narrow in time, we did provide a 38% shareholder return over the last year. I don’t know how many things you invest in, but I would suspect not many things, companies, products, investments have returned 38% over the last 12 months.
“Having said that, it is not an economic decision to me. The lens in which we are making that decision is through the lens of our people. We employ over 200,000 people in this company, and we want to embrace diversity. Of all kinds.
“If you feel, respectfully, that you can get a higher return than the 38% you got last year, it’s a free country. You can sell your shares in Starbucks and buy shares in another company.”
Clearly, this ain’t Chick-Fil-A.
See video below.