Starbucks CFO Rachel Ruggeri Leaves as Chain Continues Attempted Turnaround
Starbucks is undergoing significant changes in its executive leadership, with CFO Rachel Ruggeri exiting the company. CEO Brian Niccol's "Back to Starbucks" plan aims to improve core coffee products, pricing, and service, but the latest quarter results show a flat revenue and earnings per share decline. The new CFO, Cathy Smith, will play a role in implementing Niccol's turnaround strategy.
- The succession of CFOs may signal that corporate stability is not yet achieved under Niccol's leadership, leaving investors wondering about the long-term implications for the company's finances.
- How will Starbucks' efforts to revamp its business model and attract new customers impact the overall profitability of the company in the next few years?