Starbucks Corp. SBUX, -0.23% has named Patrick Grismer chief financial officer, succeeding Scott Maw, who will retire November 30. Grismer joins Starbucks from Hyatt Hotels Corp. H, -0.49% where he is CFO. He joined Hyatt in 2016 in that role. His career spans 25 years and also includes positions at Taco Bell-parent Yum Brands Inc. YUM, +0.48% and Walt Disney Co. DIS, -1.16% Maw will stay on as a senior consultant until March 2019. Grismer will join the company on November 12. Starbucks shares are down 3% for 2018 to date while the S&P 500 index SPX, -0.55% has rallied 8% for the period.
Have breaking news sent to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.