Starbucks Taps Taco Bell Executives, Shakeups Continue
Starbucks Corporation (SBUX) has appointed two former Taco Bell executives to key leadership positions as part of CEO Brian Niccol's "Back to Starbucks" plan.
Mike Grams and Meredith Sandland will join as Executive Vice President, Chief Stores Officer, and Executive Vice President, Chief Store Development Officer, respectively. They will relocate to Seattle and assume their roles in February.
Grams will oversee retail teams and store performance, while Sandland will lead store development strategy and design, aimed at delivering the community coffeehouse experience expected by customers.
Sara Trilling, former EVP and President of Starbucks North America, will depart the company. Niccol plans to split her role, but neither option aligned with her aspirations.
Arthur Valdez, EVP and Chief Supply and Customer Solutions Officer, will also step down, with a successor to be announced soon.
Niccol emphasized the integration of the customer solutions team with store operations as the reason for Valdez's departure.
Trilling and Valdez will assist with the transition during the upcoming months.
Starbucks is set to release its first fiscal quarter 2025 results after market close on Tuesday, marking Niccol's first full quarter as CEO.
Analysts anticipate a slight improvement in foot traffic compared to the previous quarter, offset by lower ticket growth.
Over the past year, Starbucks stock has underperformed the S&P 500 index but has gained significantly in the six months since Niccol's appointment.