DOW JONES NEWSWIRES
Starbucks Corp. (SBUX) appointed PepsiCo. Inc. (PEP) veteran
Annie Young-Scrivner as its global chief marketing officer, while
Starbucks veteran Michelle Gass will serve in the newly created
role of president at its Seattle's Best Coffee business.
The Seattle-based coffee retailer has been trying to stem a
slide in sales growth in recent years and, more recently, declines
in customer traffic and sales receipts amid the recession.
Starbucks also has been looking at ways to boost sales and cut
costs since Howard Schultz returned to the company as chief
executive in January 2008. Since then, he has been closing stores,
renegotiating rents, reducing the number of bakery suppliers and
working to make stores run more efficiently.
He noted Thursday that moving Seattle's Best Coffee into a
separate business unit will provide focus for the brand. "These
appointments will strengthen the expertise of a proven internal
leader and enhance the leadership team with diverse talent from
outside Starbucks to give us the depth necessary to operate a
global business," he added
Young-Scrivner served as chief marketing officer at Quaker
Foods, a division of Pepsi. "Annie brings a wealth of knowledge in
international business and a proven track record in global
marketing and product strategy, including health and wellness,"
said Schultz.
Gass, a 13-year Starbucks veteran, spent the past 14 months
heading Starbucks' marketing efforts after a management shakeup. At
the time, she has been Schultz's right-hand person since he
returned as CEO and was behind the success of Starbucks'
Frappuccino line.
Shares recently were down 1% at $18.37. The stock is up 94% this
year after 2008's slump.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
tess.stynes@dowjones.com