Cathy Smith, 61, will join Starbucks as its new Chief Financial Officer (CFO), replacing longtime veteran Rachel Ruggeri. The move is part of CEO Brian Niccol’s efforts to turn around slumping coffee sales since his appointment in September.
Niccol has shaken up the leadership team during his tenure, with notable departures including the North American CEO and president, chief supply officer, and former chair of the board. Smith, who joins from Nordstrom, brings decades of experience as CFO for various companies, including Bright Health Group, Target, and Walmart International.
Smith is expected to start her new role in the next month, according to a letter from Niccol to employees. Ruggeri will remain with the company until then to assist with Smith’s transition. The change in leadership comes without cause, and Ruggeri’s departure marks another significant executive shake-up under Niccol’s leadership.
Source: https://www.cnbc.com/2025/03/04/starbucks-nordstrom-cfo-cathy-smith.html