DigitalCFO Newsroom | 11 February 2022
As a result of Ms. Walker’s sabbatical leave, effective February 25, 2022, Rachel Ruggeri will be appointed as the Company’s principal accounting officer and will continue to serve in her role as the Company’s principal financial officer.
On February 4, 2022, Starbucks Corporation approved Jill L. Walker’s transition from her role as senior vice president, Corporate Financial Services and chief accounting officer of the Company as a result of her taking an unpaid sabbatical leave from the Company (also known as a Starbucks “Coffee Break”), effective February 25, 2022.
As a result of Ms. Walker’s sabbatical leave, effective February 25, 2022, their executive vice president, chief financial officer, Rachel Ruggeri, 52, will be appointed as the Company’s principal accounting officer and will continue to serve in her role as the Company’s principal financial officer. Ms. Ruggeri has served as the Company’s executive vice president, chief financial officer since February 1, 2021. Ms. Ruggeri first joined Starbucks in 2001 as a member of the accounting team, where, in her first year, she had the responsibility of helping to launch the first Starbucks Card.
During her combined tenure of 17 years at Starbucks, Ms. Ruggeri has held a variety of finance positions of increasing responsibility, including vice president of Corporate Financial Planning and Analysis, vice president of Finance in support of the U.S. Business, senior vice president of Global Retail, and senior vice president, Finance, Americas. In addition to her time at Starbucks, Ms. Ruggeri served as the senior vice president and chief financial officer of Continental Mills, Inc., a maker of breakfast, baking, and snack brands, from August 2018 to May 2020.
In connection with her appointment, Ms. Ruggeri’s compensation will remain unchanged. Details regarding the Company’s executive compensation program are included in the Compensation Discussion and Analysis section of the Company’s definitive proxy statement for the 2022 Annual Meeting of Stockholders filed with the Securities and Exchange Commission on January 28, 2022.
There are no family relationships, as defined in Item 401 of Regulation S-K, between Ms. Ruggeri and any of the Company’s executive officers or directors or persons nominated or chosen to become a director or executive officer. There are no transactions in which Ms. Ruggeri has an interest requiring disclosure under Item 404(a) of Regulation S-K.