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Investing.com -- Starbucks Corporation (NASDAQ: NASDAQ:SBUX) announced on March 4, 2025, the appointment of Cathy R. Smith as executive vice president, chief financial officer, principal financial officer, and principal accounting officer. The effective date of her appointment is yet to be determined.
Smith, 61, comes to Starbucks from Nordstrom (NYSE:JWN), where she served as executive vice president, chief financial officer, and treasurer since 2023. Prior to Nordstrom, she held the position of chief financial and administrative officer for Bright Health Group from 2020 to 2023. Smith also served as the chief financial officer for Target Corporation (NYSE:TGT) from 2015 to 2020.
Her extensive experience includes roles as chief financial officer for several other major companies, including Express Scripts, Walmart (NYSE:WMT) International, GameStop (NYSE:GME), Centex, Kennametal (NYSE:KMT), Textron (NYSE:TXT), and Raytheon (NYSE:RTN). Smith currently serves on the board of directors at PPG (WA:IBSP) Industries (NYSE:PPG) and Baxter International (NYSE:BAX).
In a company-wide communication, Starbucks CEO Brian Niccol thanked outgoing CFO Rachel Ruggeri for her nearly two decades of service to the company. Ruggeri is credited with helping Starbucks navigate challenging times and contributing to the company’s significant successes.
Niccol expressed gratitude for Ruggeri’s leadership and integrity, highlighting her focus on results and the importance of company culture. He noted that Ruggeri has consistently taken on big challenges and helped teams succeed, always putting customers and partners at the center of her work.
Niccol also warmly welcomed Smith to her new role, praising her extensive experience in retail, global operations, and turnaround success. He expressed excitement about partnering with Smith on the company’s Back to Starbucks plan. Smith is expected to start her new role within the next month.
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