Starbucks promotes Rachel Ruggeri to CFO as Pat Grismer retires, reiterates outlook

Starbucks Govt Vice President and Chief Financial Officer Patrick “Pat” Grismer is pictured at the Annual Meeting of Shareholders in Seattle, Washington on March 20, 2019.

Jason Redmond | AFP | Getty Photos

Starbucks acknowledged Thursday that Rachel Ruggeri, senior vice president of finance for the Americas division, will take Chief Financial Officer Pat Grismer’s put when he retires on Feb. 1.

The coffee chain also reiterated its outlook for the first fiscal quarter of 2021 and the pudgy-365 days forecast.

For the fiscal first quarter, the company initiatives adjusted earnings of 50 cents to 55 cents per fraction. At some stage in your entire fiscal 365 days, Starbucks expects to function between $2.70 and $2.90 per fraction, after adjustments, on income of $28 billion to $29 billion.

Grismer will cease on as an advisor to CEO Kevin Johnson by diagram of Might per chance per chance 2 to inspire the transition. He assumed the characteristic of chief monetary officer in 2018 after retaining the the same title at Hyatt.

Ruggeri started working at Starbucks 16 years ago as a member of the accounting personnel, serving to start the first Starbucks Card. She has 28 years of ride.

Shares of Starbucks, which has a market tag of $122 billion, had been flat in premarket trading. The stock has risen 18% over the previous 365 days.