Starbucks announced on Aug 22nd. We were all hoping then, either Bill Ackman or some other activists would come and force change. Fast forward 3 weeks, we saw Bloomberg Article. Few more days from that, John Donahue “The Bain mo--n” was booted out.
In less than 30 days.
Elliot will need to perform another top to bottom reorg to reset us again.
I think that timeline is less relevant than the next 30 days. Q1 earnings will likely be abysmal and this change was necessary to give the institutional investors a reason not to bail. Real change will require EH to clean house in the C-suite which will take time.