Starbucks is undergoing a leadership transition as Cathy Smith steps in as the new Chief Financial Officer, succeeding Rachel Ruggeri. Smith, a seasoned executive with extensive experience in retail, global operations, and financial turnarounds, has held CFO roles at Nordstrom, Target, and Walmart International. Her expertise in guiding companies through complex financial landscapes makes her a strong addition to Starbucks at a pivotal time. As she takes on this role, Smith will play a key part in driving the company’s financial strategy and supporting the ongoing “Back to Starbucks” plan. The company’s leadership has expressed confidence in her ability to navigate challenges and foster sustainable growth while upholding Starbucks' core values.
After nearly two decades with the company, Ruggeri steps down, leaving behind a legacy of financial acumen, steady leadership, and a deep commitment to Starbucks’ mission. Throughout her tenure, she helped shape the company’s financial strategy while prioritizing employees and customers. Her ability to lead through challenges and build strong teams contributed to Starbucks' continued success. During this transition, Ruggeri will continue to support the company, allowing employees the opportunity to share their gratitude and reflect on her lasting impact. With Smith’s expertise and a clear plan ahead, the company remains focused on driving sustainable growth while upholding its core values.
