LOS ANGELES (Reuters) - Starbucks <SBUX.O> Corp unveiled a reorganization on Monday that focuses the coffee chain on international expansion.
The company currently has a U.S. division and an overseas unit called Starbucks Coffee International.
Continue Reading Below
Starbucks appointed a president for each of these regions. John Culver will oversee China and Asia Pacific. Cliff Burrows, the current U.S. president, will run Americas. Michelle Gass will manage EMEA.
The new structure suggests Starbucks is continuing an international push that has already generated strong growth, especially in China.
The company also detailed growth plans for other brands it owns.
Seattle's Best Coffee, run as an independent unit by Jeff Hansberry, has a goal of becoming a $1 billion business over time, Starbucks said.
Annie Young-Scrivner, Starbucks global chief marketing officer, will take on the additional role of president of Tazo Tea, a business the company acquired in 1999.
"As the second most consumed beverage in the world after water, tea represents an $87 billion global market opportunity and the company intends to build Tazo into a globally recognized multibillion-dollar brand," Starbucks said.
(Reporting by Lisa Baertlein; Editing by Steve Orlofsky)