Starbucks tapped Hyatt Hotels Chief Financial Officer Patrick Grismer to replace retiring CFO Scott Maw, effective Nov. 30.

"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," Kevin Johnson, Starbucks president and chief executive officer, said in a statement Monday.

Grismer has more than 25 years of experience working for companies like Hyatt, Yum Brands and Disney. He began his career as a management consultant with Price Waterhouse. Maw, who's been with the company for seven years, will remain on as a consultant to Starbucks through March 2019.

Shares of Starbucks were up nearly 1 percent Monday morning, and are down more than 2 percent in the past year.