Starbucks names Target executive to lead supply chain as disruptions linger
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Starbucks Corporation (NASDAQ:SBUX) appointed a former Target Corporation (TGT) as global supply and customer solutions officer.
Arthur Valdez joins the coffeemaker effective July 31. Previously, Valdez was EVP and chief supply chain and logistics officer at Target.
Valdez will lead the companyâs global supply chain and customer solutions strategies.
The COVID-19 pandemic threw supply chains around the world into chaos after countries closed down to stem the spread of the virus starting in 2020. While many of those issues have been resolved, some remain.
In May, new Chief Executive Officer Laxman Narasimhan, who joined Starbucks (SBUX) as interim CEO in October and formally took the reins from Howard Schultz in April, specifically cited the supply chain as an area that needs improvement.
âOur end-to-end supply chain has significant opportunities to reduce cost and improve availability,â Narasimhan said at the time.
On July 8, Starbucks (SBUX) Care tweeted: âWe are experiencing temporary supply shortages of some of our products. Specific items will vary by market and store. We apologize for the inconvenience and are working quickly and closely with our supply chain vendors to restock items as soon as possible.â
Shares were little changed on Wednesday morning.
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