Starbucks Corp. has promoted chief financial officer and chief administrative officer Troy Alstead to group president of Global Business Services, the coffeehouse operator said Tuesday.
The promotion recognizes Alstead’s increasing responsibility and complexity of his role overseeing Starbucks’ global financial, technology and supply chain operations, the company said.
Alstead, who will maintain his role as CFO, also has the challenge of ensuring the company’s overall business infrastructure will support Starbucks’ aggressive global growth plans.
“Under Troy’s leadership as chief financial officer for the past five years, Starbucks has delivered an extraordinary experience to our customers, as well as exceptional operating performance, financial results and returns for our shareholders,” said Starbucks’ chair, president and chief executive Howard Schultz in a statement. “Troy’s strategic business and financial acumen, discipline and leadership have been instrumental to our short- and long-term growth. As we continue to expand to new markets and channels, his role as group president leading Starbucks Global Business Services will be critical to ensuring the company’s continued success.”
Alstead has been with Starbucks since 1992, when it was a privately held company with just over 100 locations.
As the company grew, he held various roles in finance and general management. He was one of the original members of Starbucks’ international team and later served as senior vice president for Starbucks Coffee International. He also served as interim president of the company’s business in Europe, the Middle East and Africa, and later became chief operating officer of Starbucks Greater China.
Alstead was named chief financial officer in 2008.
The Seattle-based Starbucks chain includes 19,209 locations worldwide, including 13,153 in the Americas.