Jack in the Box names former Starbucks CFO Rachel Ruggeri to board

Yahoo Finance·21 Sep 2026·

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Jack in the Box on Monday named former Starbucks CFO Rachel Ruggeri to its board as the fast-food chain continues an overhaul of its board and leadership structure. Michael Murphy, a board member since 2002, is retiring and will not stand for reelection, and the San Diego-based company also extended a cooperation agreement with the activist fund Greenwood Investors. The appointment follows the recent naming of former Taco Bell Chief Marketing Officer Taylor Montgomery as president and CEO-in-waiting, who is expected to join the board within the next 12 months; federal regulatory filings revealed a $220,000 sign-on bonus, an annual salary of $700,000, $1.5 million in stock, and an annual stock grant of $500,000 that is expected to increase to $1 million in 2028. Jack in the Box has made a series of changes since last year, including naming former Taco Bell CEO Mark King chairman, who earlier this year became interim CEO after the chain dismissed Lance Tucker, and appointing Katelyn Zborowski chief marketing officer and former P.F. Chang's CEO Eduardo Luz to the board in April. Ruggeri, who spent more than two decades at Starbucks, most recently as CFO, joins as same-store sales have fallen in nine of the past 10 quarters and the stock is down 30% over the past year and 87% over the past five years, though sales were at their best in nearly two years last quarter and turned positive late in the period and in the current quarter.

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Board overhaul: names former Starbucks CFO Rachel Ruggeri to board, extends cooperation agreement with activist Greenwood Investors, and details new CEO pay package.