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Starbucks announces Molly Liu as the new co-CEO for its China division. Partnering with current CEO, Belinda Wong, Liu's promotion emphasizes a leadership duo focused on the brand's next chapter in China, following her impactful tenure in digital ventures.
Liu and Wong's main task is to boost Starbucks' growth in the country. They will aim to reach 9,000 store outlets by the year 2025. According to Reuters, the new co-CEO's promotion is set to take effect on Oct. 2.
As for Wong, she has been the company's chief since May 2011. She will now co-manage and lead Starbucks' business in the region with Liu.
The newly-appointed co-CEO first joined Starbucks in 2012, and before her latest promotion, she has been serving as Starbucks China's vice president of digital ventures since 2016. In 2021, her role expanded, and the chief operating officer title was added to her portfolio.
As VP of digital ventures at Starbucks China, Liu has been credited as the key figure in the country's accelerated brand expansion. Under her watch, China has become the company's second-largest market after opening and running about 6,500 stores with digital ordering service features.
"Molly is a strong leader who has been instrumental in elevating the Starbucks Experience for our Chinese customers and driving industry-leading innovation for our China business," Starbucks' chief executive officer, Laxman Narasimhan, said in a press release. "There remains tremendous opportunity for Starbucks in China, and I'm confident that together, Belinda and Molly, will lead Starbucks through our next chapter while living our Mission and Values."
On her promotion, Liu said she feels honored to be tasked with co-leading Starbucks China. She added, "Belinda and I have worked together for over a decade and I'm excited to be partnering with her in this role as we continue to deepen the moments of human connection with our Chinese customers."
Photo by: Athar Khan/Unsplash
