Starbucks has named a new president and CEO. Jim Donald will assume both positions from today (1 April) following the retirement, also today, of Orin Smith. Donald will also join the company's board of directors, filling the seat vacated by Smith.

"I look forward to working with Jim for years to come," said Starbucks chairman Howard Schultz in a statement.

Donald, 51, joined Starbucks in 2002 as president of its North America operations. In this position, Donald was responsible for the overall management, business development and operations of Starbucks in all North American markets.

Prior to Starbucks, Donald served as chairman, president and chief executive officer of Pathmark Stores, Inc. Donald was a key executive in Wal-mart's development of the Wal-mart Super Center, supervising all merchandising, distribution, store design and real estate operations. Donald has more than 30 years of national retail and supermarket experience.