SEATTLE – Starbucks (NASDAQ: SBUX) announced, effective today, Laxman Narasimhan has assumed the role of chief executive officer and will join the company’s board of directors. Narasimhan was named incoming ceo on <a href="https://stories.starbucks.com/press/2022/starbucks-names-laxman-narasimhan-as-next-chief-executive-officer/">September 1, 2022</a>, succeeding company founder and now former ceo, Howard Schultz.

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Following the global search for the new leader of Starbucks, Narasimhan joined the company as incoming ceo on October 1, 2022, bringing nearly <a href="https://stories.starbucks.com/leadership/laxman-narasimhan/">30 years of experience</a> leading global consumer goods businesses and advising retail, grocery, restaurant and e-commerce companies. Over the past five months, he has embarked on a unique immersion experience, traveling to work with partners (employees) in over 30 stores, manufacturing plants and in support centers around the world, earning his barista certification along the way. He became immersed in the reinvention plans for the company led by Schultz who returned as interim ceo effective April 4, 2022.

Since Schultz returned last year, Starbucks unveiled a company-wide reinvention strategy and continued to deliver on more than $1 billion in investments in retail partners and stores for prioritized areas such as increased pay and sick time accrual, new financial well-being benefits, modernized training and collaboration, store innovation and equipment and the celebration of coffee.&nbsp;The company saw a 47 percent stock price increase since the Q2 FY22 earnings call through the Q1 FY23 earnings call, and market cap growth of approximately $40 billion during that same time. The company also delivered 50 percent in Total Shareholder Return in this time period, far outpacing the S&amp;P 500.&nbsp;Starbucks was also most recently named the most valuable restaurant brand for the 7th consecutive year by <a href="https://brandirectory.com/rankings/restaurants/" target="_blank" rel="noreferrer noopener">Brand Finance</a>.

Schultz shared a letter to the company’s senior leadership team on the eve of the announcement – viewable <a href="http://stories.starbucks.com/press/2023/you-are-the-future-of-starbucks-howard-schultz-letter-to-leaders-as-he-steps-down/">here</a>.

“The board wants to express our sincerest thanks to our founder, Howard Schultz, for selflessly picking up the leadership mantle when asked—forgoing compensation and putting aside his own pursuits—for the love of our company and its partners,” said Mellody Hobson, Independent Starbucks Board of Directors chair.&nbsp;“We would not be where we are without him.”

Narasimhan officially assumes the role of chief executive officer today and will lead Starbucks Annual Shareholder Meeting this Thursday, March 23. As he ascends into the role, Narasimhan will continue engaging the leadership team, sharing his early learnings and insights and assessing opportunities for the company as they chart a path forward.

“Laxman’s intensive immersion into the business coupled with his extensive experience as a proven brand builder, innovator and operator have uniquely prepared him to lead Starbucks into its next phase of growth,” said Hobson. “This immersion has deepened Laxman’s understanding of Starbucks culture and values. In this time of learning and listening, he has already won the hearts and minds of our partners around the world.”

“I am humbled to officially step into my role as Starbucks chief executive officer, leading our incredible team of more than 450,000 green apron partners around the world. The foundation Howard has laid – building from scratch an iconic global brand fueled by a lasting passion to uplift humanity – is truly remarkable, and I am honored to have the opportunity to build on this deep heritage,” said Narasimhan. “As a human connection business, we have limitless possibilities to deliver for our partners, our customers, our investors and our communities through every cup and every connection. I am excited to work alongside our partners worldwide to unlock the limitless future of Starbucks.”

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Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 36,000 stores worldwide, 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 stories.starbucks.com or <a href="http://www.starbucks.com">www.starbucks.com</a>.

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Following the global search for the new leader of Starbucks, Laxman Narasimhan joined the company as incoming ceo on October 1, 2022, bringing nearly 30 years of experience leading global consumer goods businesses and advising retail, grocery, restaurant and e-commerce companies.

Laxman Narasimhan Assumes Role of Starbucks Chief Executive Officer

https://historias.starbucks.com/en-es/press/press-releases/

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https://historias.starbucks.com/en-es/press/2023/laxman-narasimhan-assumes-role-of-starbucks-chief-executive-officer/

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São Paulo - In response to devastating rain, floods and landslides in the north coast region of the state of São Paulo, The Starbucks Foundation and SouthRock – licensed operator of Starbucks in Brazil – have committed joint donations to support immediate relief and recovery efforts on the ground.

Donations will go to <a href="https://gerandofalcoes.com/tamojunto/">Gerando Falcões</a> – an NGO partner of Starbucks in Brazil that is committed to combating poverty through initiatives aimed at education, economic development and citizenship in favelas – to purchase hygiene kits, clothes and food for affected communities in São Paulo. These relief items and resources will be distributed through Gerando Falcões’ network of NGO partners that serve impacted locations.

These latest donations build on recent partnership between The Starbucks Foundation, Starbucks Brazil and Gerando Falcões through the <a href="https://stories.starbucks.com/stories/global-community-impact-grants/">Global Community Impact Grants</a> program.

The Starbucks Foundation strengthens humanity by transforming lives across the world, with a focus on enabling community resiliency and prosperity and uplifting communities affected by disaster. Established in 1997, The Starbucks Foundation is a Section 501(c)(3) charitable organization under U.S. law.

SouthRock&nbsp;prides itself on its hands-on “owner/operator” approach to food and beverage management in Brazil. SouthRock focuses on building trust with employees and empowering them to deliver experiences which exceed customers’ expectations. Its management team’s track record is one built on growth through operational excellence by creating meaningful opportunities for partners to advance their careers and deliver strong financial results to our stakeholders. For more information please contact:&nbsp;<a href="mailto:info@southrockcapital.com">info@southrockcapital.com</a>.

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News Archives - Historias-en

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The Starbucks Foundation and SouthRock Support Communities Impacted by Floods in Brazil’s São Paulo State - Historias-en

The Starbucks Foundation and SouthRock Support Communities Impacted by Floods in Brazil’s São Paulo State

São Paulo &#8211; In response to devastating rain, floods and landslides in the north coast region of the state of São Paulo, The Starbucks Foundation and SouthRock – licensed operator of Starbucks in Brazil – have committed joint donations to support immediate relief and recovery efforts on the ground. Donations will go to Gerando Falcões […]

https://historias.starbucks.com/en-es/press/2023/the-starbucks-foundation-and-southrock-support-communities-impacted-by-floods-in-brazils-sao-paulo-state/

The new drive-thru store in the popular coastal destination underscores Starbucks commitment to job creation, growth and evolving its on-the-go customer experience.

Panama -- As part of its continued expansion plans in the market, Caribbean Coffee Traders Limited, Starbucks operating licensee in Panama, today announced that more customers can enjoy the Starbucks Experience in a new store located in the town of Coronado. The new drive-thru store, located on Vía Interamericana, Corregimiento de Las Lajas just minutes from the Coronado Beach, marks the 15th Starbucks store opening in Panama.

With the &nbsp;new drive-thru opening, Starbucks reinforces its commitment to meeting the evolving Panamanian customer needs of convenience, connection and personalization. The drive-thru format aims to balance speed and quality of time to create an unmatched customer experience.

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“This opening brings great joy to all who represent Starbucks Panama. Our new store reinforces Starbucks &nbsp;commitment to and investment in Panama, marked by continued expansion and new cafés &nbsp;that provide job opportunities for our local communities while further satisfying our customers’ growing demand for premium coffee on-the-go,” said Sofia Moreno, Starbucks Panama country manager.

The drive-thru store is designed to provide a convenient, safe and familiar experience for all. The opening also will create 12 jobs in the Coronado community, with approximately 140 local partners (employees) proudly wearing the green apron across the market.

In addition to the milestone opening of Starbucks Panama’s 15th store, the company recently opened another drive-thru store in Villa Lucre, located in José Domingo Espinar in the district of San Miguelito.

"At Starbucks, we strive to ensure that our stores act as a 'third place' for our customers – a welcoming place away from home and work where people can connect over a cup of coffee," shared Moreno. "Our goal is to continue working to create experiences that support Starbucks mission to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.”

Starbucks remains committed to continuing to enhance the customer experience in the market and throughout the Latin America and Caribbean region. Starbucks welcomes its customers at the two new locations from Monday through Sunday, from 6:30 a.m. to 10:00 p.m.

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Starbucks Panama Celebrates its 15th Store Milestone with Expansion to Coronado - Historias-en

Starbucks Panama Celebrates its 15th Store Milestone with Expansion to Coronado

The new drive-thru store in the popular coastal destination underscores Starbucks commitment to job creation, growth and evolving its on-the-go customer experience. Panama &#8212; As part of its continued expansion plans in the market, Caribbean Coffee Traders Limited, Starbucks operating licensee in Panama, today announced that more customers can enjoy the Starbucks Experience in a […]

https://stories.starbucks.com/uploads/sites/34/2023/03/Header-Image_Coronado-Store.jpg

https://historias.starbucks.com/en-es/press/2023/starbucks-panama-celebrates-its-15th-store-milestone-with-expansion-to-coronado/

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The company brings back customer favorites, including the Pumpkin Spice family of beverages, and launches a new single-origin whole bean coffee across Latin America and the Caribbean.

São Paulo - Starbucks Brazil today announced that its seasonal Spring menu will be available in all stores across the market starting August 30. For this campaign, Starbucks Brazil customers will see the return of the iconic Pumpkin Spice and Brownie beverage families as well as a new drink, the Ultra Caramel Frappuccino® Blended Beverage.

“We are thrilled to reintroduce some of our customer favorites this season, including our classic Pumpkin Spice family of beverages. Pumpkin Spice has become a tradition that differentiates Starbucks menu globally at this time of year, and we are delighted to bring this experience to our Brazilian customers for the third year,” said Sedenir Junior, Marketing Manager for Starbucks Brazil. “With the rise in temperatures, we want to celebrate spring with a selection of lighter and well-loved drinks.”

As part of the Spring campaign, the brand will also launch a new whole bean coffee, <a href="https://historias.starbucks.com/en-es/press/2022/starbucks-launches-its-first-single-origin-coffee-from-veracruz/" target="_blank" rel="noreferrer noopener">Starbucks® Las Montañas Veracruz, México</a>. This single-origin, dark roast coffee has notes of piloncillo and toasted almond, with a hint of cinnamon and a chocolaty body.

Veracruz was the first state in Mexico where coffee was planted over two centuries ago. Cultivated by Nahua coffee producers in the most mountainous area of southern Veracruz, this new Starbucks whole bean coffee is the perfect way to celebrate the company's 20th anniversary of retail operations in Mexico and the Latin America and Caribbean region. The coffee will be offered across all Starbucks stores regionwide in the coming weeks.

Customers can also enjoy Spring menu products* through the Starbucks Rewards program, using stars and ordering ahead through the Starbucks Brasil app, where they can also personalize beverages the way they want. For every R$2,50 real spent, customers will receive one star through the Starbucks Rewards program.

Find out more about Starbucks Brazil’s Spring seasonal menu:

Pumpkin Spice Frappuccino® Blended Beverage – The delicious pumpkin flavor with traditional spices, blended with coffee, milk, ice and covered in vanilla whipped cream and powdered spices. Enjoy this by using 70 stars via Starbucks Rewards.

Pumpkin Spice Latte – The famous combination of espresso, steamed milk, pumpkin spice syrup, topped with vanilla whipped cream and powdered spices. Enjoy this by using 70 stars via Starbucks Rewards.

Iced Pumpkin Spice Latte – Cold version of the drink with espresso coffee, cold milk, and a spice syrup with a touch of pumpkin, ice, topped with vanilla whipped cream and powdered spices. Enjoy this by using 70 stars via Starbucks Rewards.

Cold Brew with Pumpkin Spice Cold Foam – For anyone who needs an extra dose of caffeine! Cold Brew is an artisanal coffee extracted cold for 20 hours. Rich in caffeine with an intense and full-bodied flavor, it is served over ice. In this version it comes finished with Pumpkin Spice flavored Cold Foam. Cold Foam is a dense and creamy foam, made with skimmed milk stirred at very high speed, bringing a completely new sensation and a unique experience in drinks with ice, in addition to being a great low-calorie substitute for whipped cream. Usually flavored with vanilla, this version brings the classic flavor of Pumpkin Spice with the amazing and innovative texture of Cold Foam. Enjoy this by using 70 stars via Starbucks Rewards.

Brownie Frappuccino® Blended Beverage – Bringing a lot of crunchiness, sweetness and flavor back to our stores, the Brownie Frappuccino® Blended Beverage is made with dark chocolate, vanilla and crunchy brownie pieces, finished with a unique brownie whipped cream and crunchy cookie. Available with coffee or without. Enjoy this by using 70 stars via Starbucks Rewards.

Brownie Latte – This deliciousness in the latte version, brings espresso coffee with dark chocolate, sweetened with vanilla and very creamy milk, and we can't forget the crunchy pieces of brownie, whipped cream and a cookie crunch to finish. Enjoy this by using 70 stars via Starbucks Rewards.

Iced Brownie Latte – A complement to the hot version, the Iced Brownie Latte brings espresso, dark chocolate, vanilla and the cookie crisps give a texture never seen before, with cold milk and ice, brownie whipped cream and more crunch on top. Enjoy this by using 70 stars via Starbucks Rewards.

Espresso Collection: Brownie – The espresso collection was developed for those who want to mix dessert with espresso after lunch. In a 100ml cup, intense espresso mixes with chocolate and crunch to bring this wonderful experience. Top with brownie whipped cream and cookie crisps and we have an espresso-shaped dessert to enjoy our breaks. Enjoy this by using 45 stars via Starbucks Rewards.

Ultra-Caramel Frappuccino® Blended Beverage -This Frappuccino® Blended Beverage is perfect for caramel lovers. Bringing layers of caramel and exclusive coffee whipped cream, transforming our traditional Caramel Frappuccino® Blended Beverage into an explosion of flavors. Enjoy this by using 70 stars via Starbucks Rewards.

Starbucks® Las Montañas Veracruz, Mexico – This wonderful whole bean coffee, grown in the foothills of the mountains of Veracruz, Mexico's largest coffee producing state, is being offered for the first time at Starbucks in 2022. This dark-roasted coffee features notes of piloncillo and toasted almond, with a pinch of cinnamon and a chocolaty body. Its packaging is a celebration of the beautiful landscapes of this rich coffee region. Enjoy this by using 150 stars via Starbucks Rewards.

The Spring campaign will run across Starbucks Brazil stores until October 31. The new items can be purchased for a limited time and for as long as stocks last in Starbucks stores across the market and through the Peça pelo Celular Mobile Order and Pay feature, available in selected stores, via the Starbucks Brasil app.

*The price of each item as well as its availability may vary according to region.

Follow Starbucks Brazil at <a href="https://www.linkedin.com/company/starbucks-brasil-comã©rcio-de-cafã©s-ltda-/">LinkedIn</a>, <a href="https://www.instagram.com/starbucksbrasil/">Instagram</a>, <a href="https://www.facebook.com/StarbucksBrasil/">Facebook</a>, <a href="https://twitter.com/StarbucksBrasil">Twitter</a> and <a href="https://www.youtube.com/user/StarbucksBrasil">YouTube</a>.

Starbucks Brazil Celebrates Spring with Iconic Seasonal Products - Historias-en

Starbucks Brazil Celebrates Spring with Iconic Seasonal Products

The company brings back customer favorites, including the Pumpkin Spice family of beverages, and launches a new single-origin whole bean coffee across Latin America and the Caribbean. São Paulo &#8211; Starbucks Brazil today announced that its seasonal Spring menu will be available in all stores across the market starting August 30. For this campaign, Starbucks […]

https://stories.starbucks.com/uploads/sites/34/2022/08/Header-Image_Spring-Launch_Brazil.png

https://historias.starbucks.com/en-es/press/2022/starbucks-brazil-celebrates-spring-with-iconic-seasonal-products/

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