SEATTLE — Patrick Grismer has been named executive vice-president and chief financial officer for Starbucks Corp.
Mr. Grismer joins Starbucks from Hyatt Hotels Corp., where he was c.f.o. since joining the company in March 2016. Before that, he held various leadership positions at Yum! Brands, Inc. over 14 years, including c.f.o. During that time, he was also c.f.o. of Pizza Hut U.K. and senior director of finance for the Taco Bell brand. Prior to joining Yum!, Mr. Grismer worked with The Walt Disney Co. for 10 years in a number of finance and strategy positions, including vice-president of business planning and development for The Disneyland Resort. Mr. Grismer began his career in 1985 as a management consultant with Price Waterhouse.
“As a seasoned c.f.o. 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, president and chief executive officer of Starbucks. “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.”
Mr. Grismer succeeds Scott Maw, who will retire as executive vice-president and c.f.o. of Starbucks on Nov. 30. Mr. Maw has held his current role for more than four years and been with Starbucks since 2011. Mr. Grismer will join the company on Nov. 12 and assume the role of c.f.o. on Nov. 30. Mr. Maw plans to remain a senior consultant through March 2019 to ensure a smooth transition.