C-SUITE

Starbucks taps former Hyatt, Yum! Brands exec as CFO

BY Marianne Wilson

Starbucks Corp. has named a 25-years-plus financial executive to its C-suite.

The coffee giant appointed Patrick Grismer executive VP and CFO.

He succeeds Scott Maw, who will retire on Nov. 30, but remain a senior consultant through March 2019 to ensure a smooth transition. Grismer will join Starbucks on Nov. 12, and assume the CFO role on Nov. 30.

Grismer joins Starbucks from his current position as CFO of Hyatt, which he has held since joining the company in March 2016. Prior to Hyatt, Grismer spent 14 years at Yum! Brands, during which he held a variety of leadership positions at Yum! Brands through14 years, including CFO.

Before Yum! Brands, Grismer served in a number of finance and strategy positions at The Walt Disney Company, including VP of business planning and development for The Disneyland Resort. Grismer began his career as a management consultant with Price Waterhouse.

“As a seasoned CFO of multiple global, consumer-facing growth companies, Pat brings tremendous finance expertise, a customer-centric mindset and a wealth of restaurant industry experience to Starbucks,” said Kevin Johnson, Starbucks president and CEO. “Pat will be a fantastic addition to the team, and I look forward to partnering with him as we continue to execute against our strategic priorities and drive strong financial performance.”

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