Starbucks has appointed former PepsiCo chief strategy and transformation officer, Ricardo Arias-Nath, as its new senior vice president and president of its Latin America and Caribbean division.

Arias-Nath oversees a region with over 1,600 stores across more than 20 markets. He succeeds Tom Ferguson, who held the role since August 2022 and had been with the company since 2005.

Joining Starbucks last month, Arias-Nath brings over 25 years of experience in general management, strategy, marketing and business transformation across the consumer goods, media, distribution and technology sectors.

Prior to joining the company, Aria-Nath held several leadership roles at PepsiCo, where he worked for nearly 16 years, including SVP and chief strategy and transformation officer of Latin America, VP of marketing and senior director of strategy, business development and M&A.

In April, the Seattle-based coffee chain announced plans to expand into two new markets in the Latin America and Caribbean region by the end of the year: Ecuador and Honduras. Starbucks will open its first store in Ecuador this month, followed by its debut in Honduras later this year.

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