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Brewer will be leaving Starbucks at the end of February.

Starbucks chief operating officer Rosalind Brewer is leaving the company in February

Brewer will be the next CEO at Walgreens, making her the only Black woman currently running a Fortune 500 company.

Starbucks announced Tuesday the departure of its chief operating officer, Rosalind Brewer, at the end of February. Brewer will be taking up the helm as CEO of Walgreens, a role that will make her the only Black female chief executive of a Fortune 500 company. 

“Starbucks chief operating role responsibilities are being distributed to other members of the existing leadership team,"  Starbucks said in the company’s Q1 earnings released on Tuesday.

The announcement of Brewer’s departure comes on the heels of Starbucks chief financial officer and executive vice president Patrick Grismer announcing his retirement earlier this month, effective Feb. 1. Grismer will be succeeded by senior vice president of finance, Americas, Rachel Ruggeri.

"We are very excited for her and grateful for her many contributions over the years," Starbucks CEO Kevin Johnson said during Tuesday's earnings call. 

Starbucks’ financial results from the first quarter ended Dec. 27, 2020, saw a 5% drop in global same-store sales, driven by a significant decrease in comparable transactions.

The company opened 278 net new stores in the first quarter of the year, ending the quarter with 32,938 stores globally.

Contact Joanna Fantozzi at [email protected]

Follow her on Twitter: @JoannaFantozzi

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