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Starbucks Executive Vice President and CFO Patrick “Pat” Grismer is pictured at the annual meeting of shareholders in Seattle, Washington on March 20, 2019.
Jason Redmond | AFP | Getty Images
Starbucks said Thursday that Rachel Ruggeri, senior vice president of finance for the Americas division, will take over as CFO Pat Grismer when she retires on February 1.
The coffee chain also reiterated its outlook for the first fiscal quarter of 2021 and forecasts for the full year.
For the fiscal first quarter, the company expects adjusted earnings of 50 cents to 55 cents per share. For the full year, Starbucks expects to earn between $ 2.70 and $ 2.90 per share, after adjustments, on revenue of $ 28 billion to $ 29 billion.
Grismer will remain as an advisor to CEO Kevin Johnson until May 2 to help with the transition. He assumed the role of CFO in 2018 after holding the same title at Hyatt.
Ruggeri started working at Starbucks 16 years ago as part of the accounting team, helping to launch the first Starbucks Card. She has 28 years of experience.
Shares of Starbucks, which have a market value of $ 122 billion, have remained stable in pre-market trading. The stock has increased 18% over the past year.
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