Davda will be succeeded by Sumi Ghosh who has been appointed by the Tata Starbucks board as the new CEO with effect from January 1, 2016.
Sumi Ghosh most recently served as the Vice-President of Starbucks Midwestern US region. He has been with the company for eight years.
“As Starbucks fastest-growing new market, I could not be more optimistic about the significant opportunities ahead of us. Nevertheless, I have been carefully considering my own career aspirations as we turn the corner on this next important stage of Tata-Starbucks growth,” Davda said in a letter to company employees on Thursday.
Davda and Ghosh will work closely together through early February 2016 during this transition.
Tata Starbucks, a joint venture between Starbucks Corp. and Tata Global Beverages, generated total revenue of Rs 171.23 crore in the year ended March 2015, according to its annual report filed with the Registrar of Companies.