Starbucks Coffee Company has announced the promotion of two vice presidents set to take on more senior positions at the company with immediate effect.

Finance vice president Matt Sikes is promoted to senior vice president of finance in the US, while organisation and partner development vice president Mike Stafford has now become senior vice president of this department.

Sikes is a former director of finance and vice president of corporate business planning and analysis at Starbucks.

Starbucks US president Jim Ailing said: "This promotion is a reflection of Matt's significant contributions as leader of the finance teams supporting the US. Matt's financial and operational astuteness will strengthen the US business senior leadership team and positively affect how we can effectively deliver the Starbucks experience to our customers in the US."

Before joining Starbucks, Stafford held a senior level leadership development position with mortgage and financial services organisation Freddie Mac.

Starbucks executive vice president of partner resources Dave Pace said: "Mike's strong leadership in his previous role and past experiences make him the ideal candidate to guide Starbucks in these endeavours."