Starbucks Corp has said that its long-time executive Rachel Ruggeri will become its chief financial officer next month, replacing Patrick Grismer, who will be retiring.
Ruggeri, who is the company's senior vice president of finance in the Americas, worked with Grismer in her current role, in which she is responsible for planning and performance cafés across the region.
She started as a member of the accounting team in 2001 and has been credited for the launch of the first Starbucks Card. The loyalty programme is a key part of the business today, helping the coffee chain gain to attract customers from competition.
Grismer, who has held the role of Starbucks chief financial officer for a little over two years, will retire next month. He will remain with the company as an adviser to its CEO, Kevin Johnson, until May 2.