Starbucks Company Profile Report in 2023
Last Updated on November 13, 2023
2401 Utah Avenue South
Seattle, WA 98134
Main Phone: (206) 447-1575
Industry Sector: Consumer Cyclical
Full Time Employees: 402,000
Annual Revenue: $35.02 Billion (2022)
CEO: Laxman Narasimhan, CEO & Board Member
Fortune 500 Rank: #125 in 2023
What is the history and background of Starbucks?
Starbucks was founded in 1971 by three partners in Seattle, Washington. It started as a small coffee shop and has since grown into one of the largest global coffeehouse chains. Starbucks is known for its premium quality coffee, cozy atmosphere, and commitment to social responsibility and sustainability.
Starbucks Company Profile:
Starbucks Corporation is a renowned global coffeehouse chain and specialty coffee retailer headquartered in Seattle, Washington. Founded in 1971 by three partners, Jerry Baldwin, Zev Siegl, and Gordon Bowker, Starbucks opened its first store in Seattle's historic Pike Place Market, offering fresh-roasted coffee beans, tea and spices from around the world for customers to take home. Our name was inspired by the classic tale, “Moby-Dick,” evoking the seafaring tradition of the early coffee traders. Today, Starbucks has grown to become one of the world's most recognizable and influential coffee brands. The company's subsidiaries operate through three segments: North America, International, and Channel Development, with a mission to inspire and nurture the human spirit—one person, one cup, and one neighborhood at a time. The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products. Starbucks also offers a variety of whole bean and ground coffee, as well as handcrafted beverages, merchandise, and food items in its stores.
• Founder: Jerry Baldwin, Zev Siegl, and Gordon Bowker
• Founded: March 30, 1971
• Headquarters: Seattle, Washington, USA
• Current CEO: Kevin Johnson
• Number of Locations (as of 2022): Over 32,000 stores in 83 countries
Starbucks is known for its strong commitment to ethical and sustainable practices.
The company's core values include:
Coffee Quality: Starbucks is dedicated to sourcing and roasting high-quality arabica coffee beans from coffee-growing regions around the world. The company places a strong emphasis on maintaining the integrity of the coffee it serves.
Social Responsibility: Starbucks actively participates in various social and environmental initiatives, including ethical sourcing, supporting coffee farmers, and reducing its environmental footprint. It also supports community programs and employee volunteering.
Creating a Third Place: Starbucks aims to provide a welcoming and comfortable environment, often referred to as the "third place" (distinct from home and work), where customers can relax, socialize, or work while enjoying a cup of coffee.
Diversity and Inclusion: Starbucks is committed to fostering a diverse and inclusive workforce and seeks to create an environment where all employees feel valued and supported.
Starbucks Products and Services:
Starbucks offers a diverse menu of products and services, including:
• Coffee: A wide range of freshly brewed coffee and espresso-based beverages, with customization options for customers.
• Tea: High-quality teas, including traditional, herbal, and specialty blends.
• Food: A selection of pastries, sandwiches, salads, and snacks to complement beverages.
• Branded Merchandise: A line of Starbucks-branded merchandise, including coffee mugs, tumblers, and coffee equipment.
• Starbucks Rewards: A loyalty program offering exclusive benefits to frequent customers.
• Mobile Ordering: The Starbucks mobile app allows customers to order ahead and pay using their mobile devices.
• Global Expansion:
Starbucks has a significant global presence with stores in over 83 countries. The company's expansion strategy includes opening new locations in various markets and adapting its offerings to cater to local preferences while maintaining its core brand identity.
Corporate Social Responsibility:
Starbucks is deeply committed to social and environmental responsibility. The company focuses on ethical sourcing, reducing waste and energy consumption, and community involvement through various initiatives, including the Starbucks Foundation.
Innovation and Technology:
Starbucks is at the forefront of innovation in the coffee industry. The company's mobile app and digital initiatives have transformed the customer experience, allowing for mobile ordering, rewards tracking, and cashless payments.
Starbucks continues to evolve and adapt to changing consumer preferences and industry trends, making it a dynamic and influential player in the global coffee and retail market.
Starbucks Corporation operates under a well-defined organizational structure that supports its global operations and enables efficient decision-making and coordination across its vast network of stores and departments. The company's organizational structure is designed to foster innovation, accountability, and collaboration at various levels within the organization.
At the top of the structure is the Chief Executive Officer (CEO), who sets the overall strategic direction for the company and oversees its performance. Reporting directly to the CEO are several key executives, including the Chief Operating Officer (COO), Chief Financial Officer (CFO), Chief Marketing Officer (CMO), and other senior leaders responsible for different functional areas.
What does the Starbucks Corporate Structure look like in 2023?
Have their been any executive changes at Starbucks recently?
On September 14, 2023, Starbucks unveiled changes to its Board of Directors. Howard Schultz, a prominent figure in the company's history, is set to retire as director. Starbucks pays tribute to Schultz's enduring legacy by appointing him as the lifelong Chairman Emeritus, recognizing his unwavering dedication to fostering human connections through passion and spirit.
In addition to this transition, Wei Zhang has been elected to join the Board of Directors. Zhang brings with her over two decades of invaluable experience in global operations, consumer technology, and corporate business development. Her appointment signifies a new chapter in Starbucks' commitment to diverse and forward-thinking leadership.
Does Starbucks have a Matrix Org Structure?
Starbucks adopts a matrix organizational structure, combining functional and divisional aspects. The functional structure represents different departments or functions within the company, such as Operations, Finance, Marketing, Human Resources, and Legal. Each department is led by a senior executive responsible for the overall management and performance of that specific area.
How does Starbucks organize into Geographic Regions?
In addition to the functional departments, Starbucks also employs a divisional structure based on geographic regions. This allows the company to adapt its strategies and operations to local market dynamics, cultural nuances, and customer preferences. For instance, Starbucks has divisions for the Americas, Europe, Middle East, and Africa (EMEA), China and Asia Pacific, as well as Global Coffee, Tea, and Cocoa. Each division has its own leadership team responsible for driving growth, ensuring operational excellence, and maintaining brand consistency within their respective regions.
Do the District Managers at Starbucks have autonomy?
Within the divisions, Starbucks further organizes its operations into districts or markets. District managers oversee a cluster of stores within a defined geographic area, ensuring that operational standards, customer experience, and financial performance are consistently met. Store managers, in turn, oversee the day-to-day operations of individual stores, managing teams of baristas and supervisors.
Is there Decentralized Decision-Making at Starbucks?
Starbucks places a strong emphasis on decentralized decision-making and empowering its employees at all levels. This is reflected in its regional and district management structure, which allows for local decision-making and responsiveness to specific market conditions. At the same time, the company maintains centralized control over key aspects such as brand standards, menu development, supply chain management, and technology infrastructure.
What Technology Platforms has Starbucks deployed in 2023?
Collaboration and communication across different levels and functions are facilitated through regular meetings, conferences, and technology platforms. Starbucks also encourages cross-functional teams and task forces to address specific business challenges and drive innovation.
Overall, Starbucks' organizational structure combines functional expertise, regional adaptability, and decentralized decision-making to effectively manage its global operations, maintain brand consistency, and foster a culture of innovation and collaboration. This structure enables the company to continuously deliver on its commitment to providing an exceptional coffee experience to customers worldwide.
What is the Starbucks Business Philosophy?
At the core of Starbucks' business philosophy is a commitment to providing high-quality coffee beverages and creating an inviting ambiance for customers to relax and connect. Every cup of coffee served at Starbucks is carefully crafted by highly skilled baristas, who blend and brew premium Arabica beans to perfection. The company takes pride in its sustainable sourcing practices, working closely with coffee farmers to ensure fair trade and environmentally responsible practices.
- Diversified Products - Beyond its exceptional coffee offerings, Starbucks has successfully diversified its product range to include a wide array of beverages, such as teas, cold brews, and refreshers. The menu also features a variety of food items, including pastries, sandwiches, and salads, catering to diverse tastes and dietary preferences.
- Brand Experience - The Starbucks brand experience extends beyond the walls of its coffeehouses. The iconic green logo has become synonymous with quality and convenience, prompting the company to expand its presence across the globe. Starbucks operates thousands of stores worldwide, in bustling city centers, suburban neighborhoods, and even remote locations, striving to make its products easily accessible to customers wherever they may be.
- Starbucks Rewards Program - In addition to its physical locations, Starbucks has embraced technology and digital innovation to enhance customer convenience. The Starbucks mobile app allows customers to order ahead, customize their beverages, and earn rewards through the Starbucks Rewards program. This integration of digital solutions with the traditional coffeehouse experience has enabled Starbucks to stay at the forefront of the evolving consumer landscape.
- Environmental Footprint - Starbucks' success can be attributed not only to its exceptional products and convenient locations but also to its commitment to social responsibility. The company has implemented initiatives to minimize its environmental footprint, promote diversity and inclusion, and support communities through various charitable endeavors.
- More than just a coffee company - As Starbucks continues to grow and evolve, it remains dedicated to its founding principles of creating an exceptional coffee experience, fostering human connections, and positively impacting the communities it serves. Through its unwavering commitment to quality, sustainability, and innovation, Starbucks strives to be more than just a coffee company – it aims to be a beacon of inspiration and a gathering place for coffee lovers around the world.
Who is the current CEO of Starbucks?
Laxman Narasimhan, an accomplished business leader, is the Chief Executive Officer (CEO) of Starbucks Corporation. With a strong background in consumer goods and a passion for driving growth and innovation, Narasimhan brings a wealth of experience and strategic vision to his role.
Born and raised in a family of Indian heritage, Narasimhan developed a keen interest in business from an early age. He pursued his education at prestigious institutions, earning a bachelor's degree in Economics from the University of Chicago and an MBA from the Wharton School at the University of Pennsylvania.
Narasimhan's professional journey began in the late 1990s when he joined McKinsey & Company, a global management consulting firm. During his tenure at McKinsey, he worked with renowned clients across various industries, gaining deep insights into business strategy, operations, and organizational transformation.
In 2004, Narasimhan embarked on a new chapter in his career, joining PepsiCo, one of the world's leading food and beverage companies. Over the years, he held several key leadership positions within the organization, including Senior Vice President and CFO for PepsiCo Americas Foods, Global Chief Commercial Officer, and CEO of PepsiCo Latin America. During his tenure, he successfully drove growth and profitability, implemented strategic initiatives, and built strong relationships with key stakeholders.
In 2019, Narasimhan assumed the role of CEO at Reckitt Benckiser Group plc (RB), a global consumer goods company known for brands such as Lysol, Durex, and Mucinex. As CEO of RB, he focused on transforming the company's portfolio, leveraging digital capabilities, and driving sustainable growth. Under his leadership, RB made significant progress in areas such as e-commerce, innovation, and sustainability, further solidifying its position as a market leader.
In early 2021, Narasimhan's exceptional track record and leadership acumen led him to be appointed as the CEO of Starbucks Corporation. As the head of one of the world's most recognized and beloved coffeehouse chains, he is responsible for leading the company's global operations, driving its growth strategy, and maintaining Starbucks' position as a leader in the industry.
Narasimhan is known for his focus on customer-centricity, innovation, and sustainability. He believes in creating a positive impact on society and has been actively involved in initiatives that promote environmental stewardship, diversity, and community engagement.
Who was elected to the Starbucks Board of Directors?
|Mellody Hobson||Independent Starbucks Board of Directors chair, Ariel Investments, LLC, co-chief executive officer, president, and director||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Richard E. Allison, Jr.||Domino’s Pizza, Inc., retired chief executive officer and former director||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Beth Ford||Land O’Lakes, Inc. chief executive officer||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Jørgen Vig Knudstorp||LEGO Brand Group, executive chairman||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Satya Nadella||Microsoft Corporation, chief executive officer and chairman||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Andrew Campion||NIKE, Inc. chief operating officer||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Laxman Narasimhan||Starbucks Corporation, chief executive officer||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Howard Schultz||Starbucks Corporation, founder, director, and former chief executive officer||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
Who is on the Starbucks Executive Leadership Team?
|Laxman Narasimhan||chief executive officer||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Belinda Wong||chairwoman and chief executive officer, Starbucks China||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Takafumi Minaguchi||chief executive officer, Starbucks Japan||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Arthur Valdez||evp, Global Supply and Customer Solutions||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Zabrina Jenkins||executive advisor to the office of the ceo||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|AJ Jones II||executive vice president and chief communications officer, Public Affairs||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Rachel Ruggeri||executive vice president and chief financial officer||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Sara Kelly||executive vice president and chief partner officer||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Brad Lerman||executive vice president and general counsel||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Sara Trilling||executive vice president and president of Starbucks North America||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Michelle Burns||executive vice president of Global Coffee, Social Impact & Sustainability||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Brady Brewer||executive vice president, chief marketing officer||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Frank Britt||executive vice president, chief reinvention officer||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Deb Hall Lefevre||executive vice president, chief technology officer||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Howard Schultz||founder||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Michael Conway||group president, International and Channel Development||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Duncan Moir||president, Starbucks EMEA||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Lori Digulla||senior vice president and general manager for Starbucks Canada||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Chanda Beppu||senior vice president and president of Global Channel Development||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Emmy Kan||senior vice president and president, Asia Pacific||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Tom Ferguson||senior vice president and president, Latin America and Caribbean||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Katie Young||senior vice president of Store Operations||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Brooke O’Berry||senior vice president of U.S. Retail Operations||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Janet Landers||senior vice president, Business Technology||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Kelly Bengston||senior vice president, chief procurement officer, Global Sourcing||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Aswin Krishnan||senior vice president, Corporate and Financial Services||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Courtney Kissler-Hawkins||senior vice president, Customer & Retail Technology||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Sandra Stark||senior vice president, Data, Analytics & Insights, and Business Operations||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Anju Rao||senior vice president, Global Food Safety, Quality, & Regulatory||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Ron Crawford||senior vice president, Global Total Rewards and Partner Resources Service Delivery||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Kyndra Russell||senior vice president, Marketing||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Natarajan “Venkat” Venkatakrishnan||senior vice president, Partner and Customer Solutions||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Jez Langhorn||senior vice president, Partner Resources||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Dana Pellicano||senior vice president, Product Experience||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Andy Adams||senior vice president, Store Development||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Scott Keller||senior vice president, Store Development & Design||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Mark Brown||senior vice president, talent and inclusion||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Mark Ring||senior vice president, U.S. Licensed Stores, Starbucks Canada and Siren Retail||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Dennis Brockman||senior vice president, U.S. Operations||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
|Jon Liechty||senior vice president, U.S. Retail Operations||Starbucks||(206) 447 1575||[f][last]@starbucks.com|
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