Starbucks Appoints Patrick Grismer as Chief Financial Officer

Starbucks Corp.

SBUX, + 0.27%

Patrick Grismer has been appointed CFO, succeeding Scott Maw, who will retire on November 30th. He joins Starbucks at Hyatt Hotels Corp.

H + 0.44%

where he is CFO. He joined Hyatt in 2016 in this role. His career spans 25 years and also includes positions at Yaco Brands Inc., parent company of Taco Bell.

YUM, + 0.92%

and Walt Disney Co.

DIS + 0.58%

Maw will remain a senior consultant until March 2019. Grismer will join the company on November 12. Starbucks shares have fallen 3% since 2018, while the S & P 500 index

SPX, + 0.00%

rebounded 8% for the period.

Have the latest news sent to your inbox. Subscribe to free e-mails from the MarketWatch newsletter. Register here.