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11_STARBUCKS_CORP_B - STARBUCKS CORP(B)1 In January 2008...

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STARBUCKS CORP. (B) 1 ——————————————————————————————————————— In January 2008, Starbucks Corp. announced that Howard Schultz, the company’s founder and Chairman of the Board of Directors, would return as CEO. This action followed a period of declining earnings and sagging stock price under the CEO who succeeded Schulz in 2000. As part of Schultz’ transformation of Starbucks, Starbucks announced that it would close approximately 600 company-operated stores in the United States beginning in July 2008. As part of his transformation, Schultz earlier that year announced a modification of Starbucks organizational structure. 2 The modifications, which extended its matrix structure, 3 called for U.S. Field Operations to transition from two divisions to four, each led by a senior vice president reporting directly to the U.S. president. The four geographical operations divisions are Western/Pacific, Northwest/Mountain, Southeast/Plains and Northeast/Atlantic. At the same time, the company continued the structure of its support divisions as both their own units and the shared goals of the four U.S. field operations divisions. Within each operation division, partners supporting Store Development, Marketing, Partner Resources and Finance will report directly to their respective functions while still being accountable for results at the divisional level.
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