Why Starbucks picked retail veteran Cathy Smith to be its CFO [Yahoo! Finance]
Nordstrom, Inc. (JWN)
Last nordstrom, inc. earnings: 3/3 04:05 pm
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Source: Yahoo! Finance
The coffee house chain, ( No. 116 ) in the Fortune 500, announced on Tuesday that Cathy R. Smith, currently CFO at retailer Nordstrom Inc., will succeed Rachel Ruggeri, finance chief since 2021, and an almost 20-year Starbucks veteran, who is leaving the company. Ruggeri's separation from the company is “ without cause ,” Starbucks said in an SEC filing, and she will stay on to assist with the transition. Smith will join Starbucks in the next month, CEO Brian Niccol said in a letter to Starbucks staff. In May 2023, Smith joined Nordstrom as finance chief, after working for health insurer Bright Health Group as CFO and chief administrative officer, which has since rebranded as NeueHealth Inc. Smith previously served as CFO of retailers Target Corp., Walmart International, and GameStop Corp. But now Niccol and Smith are tasked with returning Starbucks to its former glory. Niccol's “Back to Starbucks” is a plan to counter falling sales and improve customer experiences. “Cathy brin
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