Starbucks Holders Approve Pay Plan That Drops DEI Reference (1)

Starbucks Corp. shareholders approved a plan to drop a bonus tied to DEI goals for its executives and replace it with a more general workforce target while also shifting more compensation to financial performance.

The new structure, approved at an annual meeting on March 13, nixes a specific goal from the 2023 compensation package that tied 7.5% of executives’ bonuses to an undisclosed goal related to diversity, equity and inclusion.

The new plan was approved by 92% of shareholders, the company said in a filing Friday. The vote is non-binding, but companies tend to make changes in compensation if the ...