Starbucks COO Roz Brewer leaving firm, reportedly taking over as Walgreens CEO

Starbucks Chief Operating Officer Rosalind Brewer will exchange Stefano Pessina at CEO of Walgreens, in line with The Wall Street Journal.

Starbucks introduced Brewer’s departure earlier Tuesday, saying shes was leaving on the finish of February for a CEO place at an undisclosed publicly traded firm.

Officials from Walgreens weren’t instantly accessible to remark.

Brewer joined the espresso chain’s board in 2017 and have become its chief working officer later that 12 months after serving as CEO of Sam’s Club, which is owned by Walmart. She was the primary Black lady to be COO of Starbucks and to go a division on the big-box retailer. Prior to her time at Walmart, she labored for client packaged items large Kimberly-Clark.

In her present position, Brewer offers with a variety of duties, from expertise initiatives to the creation of latest espresso drinks. She was extensively anticipated to be the successor to present CEO Kevin Johnson. After she leaves, these duties can be break up up amongst CMO Brady Brewer and Rossann Williams, who serves as president of company-operated areas within the U.S. and Canada.

Brewer additionally sits on the board of Amazon and is chairwoman of Spelman College’s board of trustees. Previously, she was a director at Lockheed Martin and Molson Coors Beverage.

Brewer’s departure comes as buyers, regulators and activists push for extra variety in Corporate America. Nasdaq has proposed adjustments that might push for larger racial and gender variety on the boards of publicly traded firms listed on its trade. 

Starbucks stated that Brewer’s subsequent place can be introduced “in the near future.” As of Tuesday, no Black ladies are the CEOs of Fortune 500 firms.

The firm has additionally lately introduced the retirement of its CFO Pat Grismer. He can be changed by Rachel Ruggeri, who serves as senior vice chairman of finance for the Americas division, beginning Feb. 1.

Shares of Starbucks fell 1.6% in prolonged buying and selling on Tuesday after the chain reported its fiscal first-quarter outcomes. It beat analyst estimates for its earnings, however its gross sales restoration within the U.S. faltered as Covid-19 instances elevated in the course of the quarter.

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