Starbucks has named a new chief financial officer as part of its larger turnaround effort.
Starbucks Chairman and CEO Brian Niccol said Tuesday that Cathy Smith will join Starbucks in the next month, Smith has been the CFO of Nordstrom's since 2023 and previously held the same role at Target and Walmart International.
Niccol says outgoing Chief Financial Officer Rachel Ruggeri will stay at Starbucks for a period of time to assist with the transition.
Niccol is trying to reinvigorate Starbucks' sluggish sales with faster service times, a less complicated menu and others moves intended to restore a community coffeehouse feel to the company's stores.
He also has been actively reshaping the company's executive ranks.