Starbucks named Nordstrom's Cathy Smith as its finance chief, hiring a retail industry veteran to aid CEO Brian Niccol's efforts to revive sales at the coffee giant.
She will replace Rachel Ruggeri, a 20-year company veteran who became the chief financial officer in 2021. Smith, 61, will join next month after leading the finance operations at the department store chain for about two years.
Prior to that, Smith was the chief finance officer at big-box retailer Target for five years. She was also CFO at Walmart's international division. Smith's appointment is the latest in a shakeup under Niccol.
Earlier this year, Starbucks said its North America president and chief supply chain officer would leave.
