Home Economy Starbucks names former Sam’s Club CEO as its new COO

Starbucks names former Sam’s Club CEO as its new COO

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Starbucks Corp.

SBUX, +0.00%

said Wednesday that it named Rosalind Brewer as its chief operating officer and group president, effective Oct. 2. Brewer was formerly the chief executive officer of Wal-Mart Stores Inc.’s

WMT, +0.00%

Sam’s Club, and was recently elected to Starbucks’ board of directors. "Starbucks is a culture-first company focused on performance and Roz is a world class operator and executive who embodies the values of Starbucks," said Starbucks Chief Executive Kevin Johnson. Starbucks stock, which was unchanged in premarket trade, has tumbled 14% over the past three months, while the S&P 500

SPX, +0.24%

has gained 1.2%.

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