Starbucks names company veteran John Culver as its new chief operating officer

Starbucks on Tuesday tapped company veteran John Culver as its newest chief operating officer.

. In addition to being named COO, he has also been promoted to North American group president.

Prior to the promotion, Culver served as Starbucks' group president of international, channel development and global coffee, tea and cocoa. In that role, he oversaw Starbucks' cafes across 58 international markets and its consumer packaged goods products.

Michael Conway, who currently serves as president of international licensed markets, will take over as group president of international and channel development. Michelle Burns, who serves as senior vice president of coffee and tea, has been promoted to executive vice president of global coffee, tea and cocoa.Shares of Starbucks are up 4% this year, giving it a market value of $132 billion, as of Tuesday's close.

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