Starbucks Promotes Molly Liu To Co-CEO Of China Business
Portfolio Pulse from Shivani Kumaresan
Starbucks Corp (NASDAQ:SBUX) has promoted Molly Liu to executive vice president and co-CEO of Starbucks China, effective October 2, 2023. Liu has served as Starbucks China's COO since 2021 and previously served as the company's VP of Digital Ventures. The company aims to operate 9,000 stores across 300 Chinese cities by 2025 and create more than 10,000 additional jobs annually. SBUX shares are trading higher by 0.07% at $96.30 in premarket on the last check Monday.
September 18, 2023 | 1:08 pm
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Starbucks has promoted Molly Liu to co-CEO of its China business. The company plans to expand its presence in China, aiming to operate 9,000 stores by 2025. SBUX shares are trading higher by 0.07% in premarket trading.
The promotion of Molly Liu to co-CEO of Starbucks China indicates the company's focus on expanding its presence in the Chinese market. This could potentially boost the company's revenues and profitability in the long term, which is likely to have a positive impact on the company's stock price.
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