The Board of Directors of Starbucks Coffee Company recently announced a series of initiatives aimed at driving shareholder value by refocusing the Company on providing customers with the distinctive Starbucks Experience and building on Starbucks legacy of innovation. To accomplish this objective, the Board has appointed Howard Schultz, chairman, to take on the additional role of chief executive officer, effective immediately, replacing Jim Donald, who is leaving the Company.

Starbucks will provide further details about its updated store growth strategy and other actions during its 2008 first quarter earnings call on January 30, 2008.

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