Former YUM! Brands Executive Joins Starbucks

On Monday, Starbucks announced its new chief financial officer, Patrick Grismer. Grismer comes to the coffee chain with executive-level experience at multiple giant, multi-national brands including Hyatt Hotels, YUM! Brands and The Walt Disney Company.

Most recently, Grismer served as the CFO for Hyatt Hotels. Before that, he held a number of leadership roles at YUM! Brands over a 14 year period, including CFO.

“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 chief executive officer, 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 will succeed Scot Maw, who announced his retirement in June.

Read the full article at qsrmagazine.com.