Starbucks Embraces Taco Bell Expertise with New Executive Appointments
Seattle, WA - Starbucks (SBUX) is tapping into the leadership of Taco Bell (YUM) with the appointment of two seasoned executives to key roles. Mike Grams, former Taco Bell executive, joins as Chief Stores Officer, while Meredith Sandland, also formerly of Taco Bell, becomes Chief Store Development Officer.
Grams will lead Starbucks' retail teams and oversee store performance, integrating the customer solutions group into his responsibilities. Sandland will focus on store development strategy, design, and execution, aiming to enhance the community coffeehouse experience.
These appointments support CEO Brian Niccol's "Back to Starbucks" plan, which aims to establish clear roles and accountability within the retail team. Sara Trilling, former President of Starbucks North America, and Arthur Valdez, former Chief Supply and Customer Solutions Officer, will be departing the company.
The executive changes come as Starbucks prepares to report its first-quarter fiscal 2025 results on Tuesday. Analysts anticipate a decline in same-store sales and foot traffic, with a slight improvement from the previous quarter. However, the stock has shown a 32% gain in the six months since Niccol's appointment as CEO in August.
About Starbucks
Starbucks is a global coffee company with over 34,000 stores in 80 countries. The company offers a wide range of coffee, tea, food, and other beverages.