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SEATTLE - Global coffee giant Starbucks Corp. yesterday said it has named Jim Donald, a well-known supermarket veteran, c.e.o. designate, with plans to move him into the top slot upon the March 31, 2005 retirement of current president and c.e.o. Orin Smith.
Before joining Starbucks in 2002 as president, North America, Donald served as chairman, president, and c.e.o of Pathmark and was a key executive in Wal-Mart's development of the Wal-Mart supercenter.
"Jim is an exceptional leader who exemplifies the culture and values of Starbucks in everything he does," said Smith in a statement. "When I hired Jim, I was confident that he was the right person to succeed me in this role. I believe that Jim is well positioned to lead the company's continued growth, while enriching the human connections with our people."
Outgoing executive Smith joined Starbucks in 1990. At that time the company had 45 stores in two countries, with revenues of $19 million. During his five years as c.e.o., Starbucks has increased store count from 2,498 and annual total net revenues of $1.7 billion at fiscal year-end 1999 to more than 8,500 locations and more than $5 billion in annual total net revenues today.
Starbucks also said Jim Alling, e.v.p., business and operations, U.S.A., has been promoted to the newly created position of president, Starbucks Coffee U.S., effective immediately.