Starbucks Names Nordstrom's Cathy Smith as CFO Amid Turnaround
Starbucks has appointed Cathy Smith, a retail industry veteran, as its new Chief Financial Officer (CFO), bringing her expertise to aid CEO Brian Niccol's efforts to transform the coffee giant. Smith will join after leading finance operations at department store chain Nordstrom for about two years and previously serving as CFO at big-box retailer Target for five years. The appointment is seen as a key move in the company's turnaround plan, which focuses on streamlining business through job cuts and improving customer experience at its U.S. stores.
- As Starbucks embarks on its "Back to Starbucks" transformation plan, Smith's arrival raises questions about how the company will balance operational efficiency with the need for employee retention and community engagement.
- What role will corporate social responsibility play in shaping the long-term strategy of a coffee giant looking to reconnect with customers and stakeholders?