Starbucks Corp.’s president and CEO Orin Smith plans to retire next March. He will be succeeded by Jim Donald, the company’s president of North America.
The changes takes effect March 31, 2005.
Smith, 62, joined Starbucks in 1990 when the company had 45 stores in two countries and revenue of $19 million. Today, the company boasts $5 billion in revenue and more than 8,500 locations.
Donald, 50, joined the company in 2002 as president, North America.
In a related development, Jim Alling, 43, the executive VP-business and operations, USA, has been promoted to the newly created position of president, Starbucks Coffee U.S., effective immediately. He joined Starbucks in 1997 as senior VP.
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