Starbucks Promotes Belinda Wong to Head China Operations
October 19 2016 - 4:39AM
Dow Jones News
By Ezequiel Minaya
Starbucks Corp. said Wednesday it was promoting company
executive Belinda Wong to chief executive of Starbucks China as the
coffeehouse chain continues its aggressive push into China, despite
lingering concerns over the country's economy.
Ms. Wong will oversee an effort to increase the chain's stores
in China from the current 2,300 to 5,000 by 2021.
"In her elevated role, Wong will focus on the overall long-term
growth strategy and lead the innovation," Starbucks said in a
statement.
She joined Starbucks in 2000 and was previously president of
Starbucks China before stepping up to her new position.
Ms. Wong was marketing manager of McDonald's China Development
Company before joining Starbucks.
Starbucks also said Leo Tsoi, most recently Starbucks China's
vice president of store development and design, has been promoted
to chief operating officer of the China business.
Beijing has grappled with a sluggish economy that has only
recently shown signs of stabilizing. China reported third-quarter
economic growth of 6.7% on Wednesday, the level it posted in both
the first and second quarters.
Gauges such as industrial production and fixed-asset investment
have been surprisingly robust recently thanks to easy-money
policies and a wave of infrastructure projects.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
October 19, 2016 04:24 ET (08:24 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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