Starbucks Names Patrick Grismer CFO

A hotel vet is moving over to Starbucks Corporation. Patrick Grismer has been hired as executive vice president and chief financial officer (CFO) of the coffee chain, effective Nov. 30.

He reports to Kevin Johnson, Starbucks president and CEO. Grismer succeeds Scott Maw, who will retire on Nov. 30. Maw will remain a senior consultant through March 2019 to ensure a smooth transition.

Grismer is an accomplished finance executive, bringing to Starbucks significant leadership experience at global, consumer-facing growth companies, including more than 25 years combined at Hyatt Hotels Corporation, Yum! Brands (parent company to KFC, Pizza Hut and Taco Bell) and The Walt Disney Company.

Grismer joins Starbucks from his current position as CFO of Hyatt, which he has held since joining the company in March 2016. In this role, he was responsible for all facets of the global finance function, as well as corporate strategy, asset management, construction, procurement and shared services.

“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 Johnson. “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.”

Prior to Hyatt, Grismer held a variety of leadership positions at Yum! Brands over 14 years, including CFO.