Rachel Ruggeri, senior vice president of Finance, Americas, will be his successor.
Starbucks Corporation announced that Patrick Grismer has decided to retire from his position as executive vice president and chief financial officer of the company, effective February 1, 2021.
Rachel Ruggeri, senior vice president of Finance, Americas and a 16-year Starbucks partner, will succeed Grismer as executive vice president and CFO, effective February 1, 2021. Ruggeri will report to Kevin Johnson, Starbucks president and chief executive officer.
Grismer will remain with the company as an advisor to Johnson through May 2, 2021, to ensure a smooth transition.
“I want to thank Pat for his leadership and his many contributions to Starbucks through this period of unprecedented change and transformative growth. He has played an important role helping the company deliver on our Growth at Scale agenda while building a strong finance team with deep expertise, and I remain as confident as ever in the future of Starbucks,” said Johnson. “On behalf of the Board of Directors and all Starbucks partners, I want to wish Pat all the best as he enters the next chapter of his life."
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