Starbucks’ ex-CEO Schultz opposes potential settlement with Elliott, FT reports

(Reuters) – Former Starbucks (NASDAQ:) chief executive, Howard Schultz, is opposing a potential settlement between the coffee chain and activist investor Elliott Investment Management, the Financial Times reported on Friday.

Schultz, who is the sixth largest shareholder in the company, made his opposition to an Elliott settlement known to some board members, the report said, citing people familiar with the matter.

Elliott has built a sizable position in Starbucks and has been discussing ways of improving the coffee chain’s stock performance, two sources familiar with the matter told Reuters last week.