Starbucks Names New COO Amidst C-Suite Shuffle – CoffeeTalk

Starbucks has promoted its North America chief coffeehouse officer, Mike Grams, to the position of chief operating officer as part of a leadership reshuffle aimed at boosting performance. This is the latest in a series of moves from CEO Brian Niccol, who took over the top job last year and has said he wants to return Starbucks to its coffee house roots. Niccol has promised a simpler menu, returning to ceramic cups, offering refills and condiment bars, and reducing wait times to under four minutes. He has also cut back on the company’s deals and discounts, seeking instead to broaden its marketing beyond loyalty program members.

In April, Starbucks reported disappointing global comparable sales and profit for the second quarter due to inflation and economic uncertainty. In March, the company hired a new finance boss, tapping retail industry veteran Cathy Smith, and in January, announced that North America president Sara Trilling and chief supply chain officer Arthur Valdez would leave. Grams assumed the position of chief coffeehouse officer, overseeing global coffeehouse development and supply chain operations.

Starbucks announced that Grams’ base salary will now be $900,000 per year, up from $700,000 per year, and his annual incentive bonus target has been increased to 125% of his base salary from 100%. As a sector lead, she mentors and trains newer members of the team, bringing them up to speed with sector knowledge.

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