Starbucks has announced the appointment of Nordstrom CFO Cathy Smith as its new chief financial officer, replacing Rachel Ruggeri. This change is part of a broader executive shake-up under the leadership of CEO Brian Niccol, who aims to improve the company’s performance. Several high-level executives have left Starbucks since Niccol’s arrival, while others with connections to him from previous roles have joined the company.
Smith, who has extensive experience as a CFO at various companies, will start her new role next month. Ruggeri, who has been with Starbucks since 2001, will be departing without cause, although she will assist with Smith’s transition.
Niccol expressed his gratitude to Ruggeri for her contributions to Starbucks during their partnership. Smith’s appointment comes at a time of change for Starbucks, as the company looks to revitalize its coffee sales and business overall. The shift in leadership is seen as a step towards achieving these goals and driving growth in the future.
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