Starbucks has tapped a Hyatt Hotels Corp. executive, Patrick Grismer, to replace Scott Maw who is retiring later this fall.
Grismer, who will join the company Nov. 12, will also hold the title of executive vice president. Maw retires Nov. 30, and will work with Grismer as a “senior consultant through March 2019 to ensure a smooth transition,” Starbucks said.
Grismer officially assumes the role of CFO for the Seattle-based coffeehouse chain on Nov. 30.
Prior to working at Hyatt, Grismer held various executive positions at Yum Brands, the parent of Taco Bell, Pizza Hut and KFC, as well as at The Walt Disney Company. He has served as the CFO of the Hyatt since March 2016.
“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,” Starbucks CEO Kevin Johnson said in a statement. “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.”
Grismer said he is very excited to join Starbucks, calling it a privilege to be part of an iconic company.
“I have always admired the Starbucks brand and values, and I look forward to working with Kevin and the leadership team to help lead the company into its next phase of growth,” Grismer said in a statement.
Starbucks operators more than 25,000 stores around the world.
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