Starbucks announced the appointment of Cathy Smith as its new chief financial officer, replacing Rachel Ruggeri. The change comes as part of a series of executive changes under CEO Brian Niccol, who aims to boost coffee sales. Smith, formerly the CFO at Nordstrom, will join Starbucks next month. Ruggeri, who has been with Starbucks since 2001, will leave the company, with Smith taking over her role.
Under Niccol’s leadership, several executives have departed from Starbucks, including the North American CEO and president. Many executives with ties to Niccol, from his time at Chipotle and Taco Bell, have joined the company. Smith brings a wealth of experience, having held CFO positions at various companies throughout her career.
Ruggeri’s departure is said to be without cause, and she will assist in Smith’s transition into the CFO role. Niccol expressed gratitude for Ruggeri’s contributions to Starbucks over the years. The announcement comes as Starbucks continues to navigate changes in leadership and business strategy to drive growth and innovation.
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