Starbucks consumer products exec leaves company

Starbucks Corp. said Monday that Gerardo Lopez is leaving his post as executive vice president of global consumer products, foodservice and Seattle's Best Coffee, for personal reasons, effective Feb. 20.

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John Culber, current president of the coffee retailer's Asia Pacific region, will succeed Lopez.

Culver, 48, has been with the company since 2002. Previously, he was vice president of sales at Nestle USA.

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Starbucks, which is trying to refashion its image as a more recession-friendly coffeehouse, said Monday it will introduce value-meal type options for $3.95 each in its U.S. company-owned stores starting March 3. The Seattle-based company has struggled to keep its customers as the recession has deepened and has been promoting loyalty cards and other options to give customers more value without hurting its premium brand status.

Shares of Starbucks fell 12 cents in after-hours electronic trading, having closed the regular session up 18 cents at $10.72.