Managing a complex region while maintaining quality
Starbucks has seen some tremendous growth in Latin America in the past 11years. Since their entry into Latin America in 2002 – when they opened their first store in Mexico City -the U.S.-based specialty coffee chain has expanded rapidly. It now has 708 storesin 12 countries in Latin America and the Caribbean, and plans to expand that with an entry into Colombia next year. In 2014, Starbucks will serve 100 million customers across the region. At the head of overseeing the finances of the company in the region is Carlos M. Estefan, CFO for Latin America and the Caribbean. LBC spoke with Estefan about his job – the challenges and triumphs – and what he considers the secret of being a good CFO.