Starbucks Strengthens Senior Leadership Team

  Starbucks Strengthens Senior Leadership Team

    New Structure to Bolster Financial and Operating Organization Globally

- ceo Howard Schultz Expands Focus on Innovation and Next Generation Retailing
                           and Payments Initiatives
            - cfo Troy Alstead promoted to chief operating officer
- svp of Corporate Finance Scott Maw promoted to executive vice president and
                                     cfo
     - Craig Russell promoted to executive vice president, Global Coffee

Business Wire

SEATTLE -- January 29, 2014

Building on record performance in FY 2013 and Q1 FY 2014, Starbucks Coffee
Company (NASDAQ:SBUX) today announced a new leadership structure that
positions the company to leverage its assets and operations, and gain maximum
benefit from the retail, consumer, mobile and digital shifts currently
underway in the global marketplace. The company will host a conference call
with the financial community to discuss the changes at 2:00 p.m. Pacific Time
this afternoon.

“These organizational moves map our internal talent to the rapidly evolving
retail environment and significant strategic and market opportunities ahead of
us,” said Howard Schultz, Starbucks chairman, president and ceo. “Each of
these experienced Starbucks leaders will be working closely with the entire
senior leadership team, and me, to bring even greater financial and
operational discipline to our business around the world. They will partner
with me as I focus on Starbucks mission, growth initiatives and the
convergence and integration of our retail and e-commerce, digital, card and
mobile assets around the world. There has never been a more exciting time to
be a Starbucks partner,” Schultz added.

The company announced today the following senior leadership changes which are
effective on February 3, 2014:

Schultz to Expand Focus on Innovation and Next Generation Retailing and
Payments Initiatives

In partnership with Starbucks senior leadership team, including chief digital
officer Adam Brotman and chief strategy officer Matt Ryan, Schultz will expand
his focus on innovation in coffee, tea and the Starbucks Experience as well as
next generation retailing and payments initiatives in the areas of digital,
mobile, card, loyalty and e-commerce to position Starbucks for its next wave
of global growth. He will also continue to work closely with his Senior
Leadership Team to ensure continued disciplined growth and operational
excellence around the world.

Troy Alstead Promoted to chief operating officer

Building on his 22 years of experience as a Starbucks partner, Troy Alstead
will be promoted to the newly created position of chief operating officer
(coo), responsible for overseeing the day-to-day operations of the enterprise.
Alstead previously served as Starbucks chief financial officer and group
president, Global Business Services. In his new capacity, Alstead will
continue to report to Schultz and will be responsible for aligning and
prioritizing company investments across business units. Group presidents Cliff
Burrows (U.S., Americas and Teavana), John Culver (China and Asia Pacific,
Channel Development and Emerging Brands) and EMEA president Kris Engskov will
now report directly to Alstead (Burrows and Culver previously reported to
Schultz; Engskov previously reported to Burrows). Also reporting to Alstead in
his new role is the company’s new chief financial officer (see below), as well
as his existing senior direct reports who lead the company’s Global Technology
and Global Supply Chain Organizations.

Alstead joined Starbucks in 1992 when the company was privately held and
operated just over 100 stores in the U.S. and Canada. Today Starbucks operates
more than 20,000 stores in 63 countries. Over the years Alstead has held
numerous roles of progressing responsibility in finance and general management
at the domestic, international and enterprise levels. He was also one of the
original members of Starbucks international team, which included senior
leadership roles in EMEA and China.

Scott Maw Promoted to executive vice president and chief financial officer

Starbucks senior vice president of Corporate Finance, Scott Maw, will be
promoted to executive vice president and chief financial officer. Maw will
report to Alstead and have oversight for Starbucks global finance function. He
joined Starbucks as global controller in 2011 and brings more than two decades
of finance leadership experience to his new role. Prior to Starbucks, Maw
served as cfo of SeaBright Insurance and as cfo of the Consumer Banking
division at JPMorgan Chase. He has also held various finance leadership
positions at GE and the Retail Banking division of Washington Mutual.

Craig Russell Promoted to executive vice president, Global Coffee

Craig Russell, Starbucks voice and advocate for coffee, will be promoted to
executive vice president, Global Coffee. He previously served as senior vice
president for the same function which he was appointed to in 2012. Russell
will continue to report to Schultz and continue to lead all aspects of the
company’s coffee strategy, quality, innovation, purchasing, education and
engagement. His team also oversees Starbucks Farmer Support Centers and works
closely with the company’s supply chain operations and global responsibility
teams to advance the company’s ethical sourcing efforts. Russell joined
Starbucks in 2001 as vice president of retail operations for Seattle’s Best
Coffee. His tenure at Starbucks builds on nearly 15 years of restaurant
management experience.

Conference Call

Starbucks will hold a conference call today at 2:00 p.m. Pacific Time to
discuss its new leadership structure, which will be hosted by Schultz. The
call will be webcast and can be accessed at http://investor.starbucks.com. A
replay of the webcast will be available through approximately 9:00 p.m.
Pacific Time on Thursday, February 27, 2014.

About Starbucks

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing
and roasting high-quality arabica coffee. Today, with stores around the globe,
the company is the premier roaster and retailer of specialty coffee in the
world. Through our unwavering commitment to excellence and our guiding
principles, we bring the unique Starbucks Experience to life for every
customer through every cup. To share in the experience, please visit us in our
stores or online at www.starbucks.com.

Contact:

Starbucks Coffee Company
Media:
Jim Olson / Zack Hutson
206-318-7100
press@starbucks.com
or
Investor Relations:
JoAnn DeGrande / Greg Smith
206-318-7118
investorrelations@starbucks.com
 
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