Starbucks Corporation announced leadership changes in its financial team. Cathy R. Smith has been appointed as executive vice president and chief financial officer, taking over as the company’s principal financial officer and principal accounting officer, effective March 24, 2025. She replaces Rachel Ruggeri, who stepped down from these roles on March 7, 2025, but will support the transition through March 28, 2025.

During the transition period, the board appointed Val Bauduin, Starbucks’ senior vice president of North America Finance, as interim chief financial officer, principal financial officer, and principal accounting officer, effective March 7, 2025. Bauduin, who joined Starbucks in 2024, previously held leadership positions at Marriott International and Deloitte & Touche LLP. His compensation will remain unchanged during his interim tenure.