|Starbucks Names Kenneth T. Lombard Senior Vice President And President of Starbucks Entertainment|
SEATTLE--(BUSINESS WIRE)--May 13, 2004--Starbucks Coffee Company (Nasdaq:SBUX) announced today that Kenneth T. (Ken) Lombard, president, Johnson Development Corporation/Magic Johnson Theatres and co-Managing Partner of the Canyon Johnson Urban Fund, has accepted the position of senior vice president and president, Starbucks Entertainment, effective May 24, 2004. In this newly created role, Lombard will lead the vision and strategy for Starbucks enhanced involvement in music and entertainment. Lombard will report to Jim Donald, president, North America.
"Since Starbucks acquisition of Hear Music in 1999, Starbucks has become a trusted editorial voice of music for our customers, delivering proprietary record compilations and now, personalized CDs," said Howard Schultz, Starbucks chairman. "Through innovations like our significant wireless network and digital technology, Starbucks has transformed the way that millions of customers access music and information that is relevant to them. We believe we have an exceptional opportunity to leverage the equity of the Starbucks brand, and the trust and confidence our customers have in the Starbucks Experience, to deliver unique content to our customers."
Lombard served as President of Johnson Development Corporation (JDC) since its inception in 1992. As President, Lombard helped the company fulfill its mission to become one of the nation's foremost urban development companies by bringing entertainment complexes, coffee houses, restaurants and retail centers to underserved communities while providing jobs for local residents, and employing local minority contractors and service vendors. Lombard is credited with successfully negotiating joint-venture relationships with Loews Cineplex Entertainment (Magic Johnson Theatres), Starbucks Coffee Company (Urban Coffee Opportunities), T.G.I. Friday's (Magic Johnson's T.G.I. Friday's), Canyon Johnson Urban Fund, Johnson MacFarlane Urban Partners and Washington Mutual Bank.
"Ken's extensive experience, working with multiple business entities, will add great value to Starbucks as we refine the strategy that enables us to deliver on our vision for music and entertainment," said Donald. "The knowledge he brings will help Starbucks continue to innovate and enhance the Starbucks Experience."
"Over the last five years, many people within Starbucks have worked with Ken, and have developed strong relationships with him based on mutual trust and respect," said Schultz. "Ken's passion for Starbucks, creativity and proven leadership are assets that make him a valuable team member."
"Ken and I have had an amazing run as partners in building JDC," said Earvin "Magic" Johnson, Chairman and Chief Executive Officer, Johnson Development Corporation/Magic Johnson Theatres. "I am thrilled that he will be working for such an incredible company and for my friend, Howard Schultz."
"The opportunity to join Starbucks is truly exciting and I look forward to the journey ahead of me," said Lombard. "The realm of possibilities in music and entertainment is virtually endless and a natural growth channel for Starbucks."
Starbucks Corporation is the leading retailer, roaster and brand of specialty coffee in the world, with more than 7,500 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company is committed to offering the highest quality coffee and the Starbucks Experience while conducting its business in ways that produce social, environmental and economic benefits for communities in which it does business. In addition to its retail operations, the Company produces and sells bottled Frappuccino(R) coffee drinks, Starbucks DoubleShot(TM) coffee drink, and a line of superpremium ice creams through its joint venture partnerships. The Company's brand portfolio provides a wide variety of consumer products. Tazo Tea's line of innovative premium teas and Hear Music's exceptional compact discs enhance the Starbucks Experience through best-of-class products. The Seattle's Best Coffee(R) and Torrefazione Italia(R) Coffee brands enable Starbucks to appeal to a broader consumer base by offering an alternative variety of coffee flavor profiles.
For media inquiries related to Johnson Development Corporation, please contact: Steve Sugerman, Sugerman Communications Group at (310)689-7535.
CONTACT: Starbucks Coffee Company Audrey Lincoff, 206-318-5013 email@example.com http://www.businesswire.com/cnn/sbux.shtml SOURCE: Starbucks Coffee Company