Starbucks Appoints Cathy Smith as New CFO in Leadership Overhaul

The former Nordstrom executive joins Starbucks as part of CEO Brian Niccol's strategy to revitalize the coffee giant's performance.

Cathy Smith, previously CFO at Nordstrom, Target, and Walmart International, will take over as Starbucks' chief financial officer next month.
Smith replaces Rachel Ruggeri, a 20-year Starbucks veteran, who will assist during the transition period before her departure.
CEO Brian Niccol, who joined Starbucks last fall, has been overhauling the company's leadership team to address declining sales and operational inefficiencies.
Starbucks has recently implemented changes such as revising its open-door policy and restructuring its North American leadership to streamline decision-making.
The company also announced a global layoff of 1,100 corporate employees as part of its broader turnaround strategy.