Starbucks poaches Nordstrom CFO as executive shake-up continues
Starbucks announced Tuesday that Nordstrom CFO Cathy Smith will join the company as its new chief financial officer, replacing longtime veteran Rachel Ruggeri.
Starbucks announced Tuesday that Nordstrom CFO Cathy Smith will join the company as its new chief financial officer, replacing longtime veteran Rachel Ruggeri.
The executive change is the latest for Starbucks after Brian Niccol joined the company as chief executive in September with the goal of turning around slumping coffee sales.
So far, noteworthy departures during Niccol’s tenure have included the company’s North American CEO, North American president, chief supply officer and the former chair of the board. Meanwhile, many executives with ties to Niccol from his time leading Chipotle Mexican Grill and Yum Brands’ Taco Bell have joined the company.
Smith, 61, joins Starbucks after two years at Nordstrom, which is also based in Seattle and recently announced a $6.25 billion deal to go private. Throughout her decades-long career, Smith has also served as CFO for Bright Health Group, Target, Express Scripts, Walmart International, GameStop, Centex, Kennametal, Textron and Raytheon.
Smith is expected to start next month, Niccol wrote in a letter to employees.
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