Starbucks CEO Talks Gender Equality, Long-Term Commitment To China

Starbucks Corporation SBUX is hosting its annual shareholder meeting Wednesday, led for the first time by its new CEO Kevin Johnson.

Gender Parity

In conjunction with the annual meeting, Starbucks is announcing a 100-percent pay equity program. All employees regardless of gender or background who perform the same tasks will be paid exactly the same amount in the U.S.

Starbucks has always focused on "taking care" of its partners since the company was created, Johnson said in a CNBC interview. Various initiatives were introduced throughout the years, including health care for part-time employees, financial assistance for college education programs and stock options. The logical next step is pay equity, and it represents "one of those things we do to take care of our partners," Johnson said. 

"By taking care of our partners, they in turn take care of our customers," the CEO said. "And if we can attract the right talent and retain that talent right here at Starbucks — that's what creates the magical Starbucks experience in our stores."

China

Starbucks' exposure to the Chinese market dates back more than 18 years, Johnson said during the CNBC interview. But it wasn't until the last five years when he coffee chain ramped its growth in the country. The total number of Chinese stores rose from 700 to over 3,200, and Starbucks has created a "brand the Chinese consumer has an affinity for," Johnson said. 

Starbucks isn't immune to geopolitical concerns or trade wars, but it is "probably unlikely" the Chinese government will decide to impose a special tax on the company's beverages, the executive said. The CEO said Starbucks, along with its Chinese partners, is prepared to "navigate whatever comes at us."

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Photo courtesy of Starbucks.