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Starbucks: Rachel Ruggeri To Succeed Grismer As EVP & CFO; Affirms Guidance

Starbucks Corporation (SBUX) announced that Patrick Grismer has decided to retire as executive vice president and chief financial officer, effective February 1, 2021. Rachel Ruggeri, senior vice president of Finance, Americas, will succeed Grismer as executive vice president and CFO, effective February 1, 2021. Grismer will remain with the company as an advisor to Johnson through May 2, 2021. Also, Starbucks reaffirmed its guidance for first quarter and the fiscal 2021.

"Our overall business momentum remains positive, providing confidence that Starbucks
will deliver financial results in line with our previous guidance," said Grismer.

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