Starbucks has promoted Molly Liu to be the sole chief executive officer of its China division. Her former co-CEO, Belinda Wong, will stay on as chair for China, the Seattle-based company said.
It is the second executive change that new CEO Brian Niccol has made since he joined the company on Sept. 9. Last week Starbucks said its CEO for North America, Michael Conway, was retiring from that position, to which he had just been appointed in March.
Conway will not be replaced. Instead, Starbucks is searching for a global chief brand officer in charge of areas such as product development and marketing.
“Over the past year, we have significantly up-leveled our innovation engine,” Liu said in a statement. “Our operational muscle has never been stronger, our brand power remains second to none and partner retention is at an all-time high.”
Before her appointment as co-CEO a year ago, Liu had been Starbucks China’s chief operating officer since 2021, and prior to that was its vice president of digital ventures.
There are 7,300 Starbucks locations in China, making it its second largest market.
Investors and other Wall Street watchers have been speculating that Starbucks would spin off its China division as sales slump there amid a weakening economy and competition from local coffee chains, something the company has reportedly considered in the past.
Contact Bret Thorn at [email protected]
